Türkiye’s reserves hit 5-month high on gold strength

Türkiye's official reserve assets climbed to $188.45 billion as of Aug. 21, marking their highest level in more than five months, according to data released Thursday by the Central Bank of the Republic of Türkiye.

Gold reserves drive weekly gain

Gold reserves surged by $5.89 billion, or 5.4%, to reach $114.22 billion during the week ending Aug. 21, more than offsetting a decline in foreign currency holdings. Foreign currency reserves dipped by $984 million, or 1.5%, to $66.46 billion, the Central Bank said. The combined value of Türkiye’s reserve position at the International Monetary Fund and special drawing rights ticked up 0.6% to $7.77 billion.

Assets up $24 billion since July

Compared with the end of July, official reserve assets have risen by $24 billion, or 14.6%, recovering from earlier lows seen in March. Foreign currency reserves have increased 18.4% over the past month, while gold reserves expanded 13.5% during the same period, according to the data. The latest weekly figure represents the strongest reserve position since the week ending March 13.

Short-term liabilities edge higher

Short-term foreign currency liabilities of the public sector, comprising obligations of the Central Bank and central government, increased by $249 million, or 0.2%, week-on-week to $120.95 billion. The modest rise in liabilities comes as policymakers in Ankara continue to monitor external debt metrics alongside the build-up in reserve buffers.