Turkiye central bank net reserves rose $10bn last week, bankers say

ANKARA: The Turkiye Central Bank’s net reserves rose by $10 billion last week as it continues accumulate foreign currency, bankers said on Tuesday.

Net reserves rose to $31 billion from $21 billion a week earlier, according to the bankers’ calculations.

Net reserves excluding swaps have risen by $42 billion in the six weeks since the March 31 local elections, bankers said, reaching -$23.5 billion.

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Of the $42 billion, a record weekly rise of $15 billion came last week, according to bankers’ calculations.

The central bank did not immediately respond to a request for comment.