The yen rose against the euro and the antipodean currencies on speculation that Japanese investors who have been buying the lira recently for its high rates will cut losses and close out their positions.
The exchange rate used by Reuters on Thursday was 7.1924 compared to 6.9527 the previous week.
The reserves plunged last year as state banks sold off an estimated total of $130 billion to stabilise the ailing lira, which still lost 20% of its value in 2020.
The lira had rallied 20% since November when the finance minister and central bank governor were replaced and President Tayyip Erdogan pledged a new market-friendly economic era.
Turkey's annual inflation rate climbed more than expected to some 15% last month and central bank governor Agbal said a possible interest rate cut will not be on agenda for a long time this year.
In a briefing on its latest quarterly inflation report, Agbal said the bank forecast that inflation will fall to 7% at the end of 2022. The official target is between 3% and 7% on an annual basis.