Turkish Central Bank reserves reach historic high

Reserves of the Central Bank of Türkiye have reached a historical high of $145.5 billion, Report informs referring to Sabah newspaper.

“Central Bank reserves have increased by $47 billion since the end of May, reaching an all-time high of $145.5 billion,” the report noted.

The regulator said in June that it would continue to gradually tighten monetary policy until the high inflation forecast changes, and from June it raised the rate from 8.5% to 42.5%.

Central Bank Governor Hafize Gaye Erkan said in July that the Turkish economy would stabilize in 2025.