Turkiye’s central bank total reserves hit record high $136.5bn

ANKARA: The Turkiye’s central bank total reserves rose $2 billion last week to a record level of $136.5 billion, five bankers’ calculations showed on Tuesday, sustaining an uptrend after it adopted more orthodox monetary policy following May elections.

The bank has raised interest rates by 3,150 basis points since June, when President Tayyip Erdogan appointed former Wall Street banker Hafize Gaye Erkan as its governor.

Turkish lira down 7% in biggest selloff since 2021 crisis

It has hiked its policy rate by 500 points in each of the last three months.

The central bank did not comment on the reserves figures.

The official data will be released on Thursday.