Türkiye’s foreign exchange reserves rise by record $8.5B

The growth of Türkiye’s international foreign exchange reserves last week amounted to $8.5 billion, setting a record for the entire history of the republic, Turkish Finance Minister Mehmet Simsek wrote on his Twitter page, Report informs.

“According to the analytical data of the Central Bank of Türkiye, net foreign exchange reserves increased by $8.5 billion last week, demonstrating the largest weekly increase in history. The return to a rational economic policy will continue in stages,” the minister said.

Simsek noted that the country's authorities will speed up work to increase its foreign exchange reserves.

“We are accelerating work aimed at providing additional external sources in order to strengthen reserves. Besides, we will continue to make our instruments based on the Turkish lira attractive,” the minister wrote.