Türkiye's foreign reserves hit record $198.4 billion as gold holdings surge

The Central Bank of the Republic of Türkiye reported Thursday that the nation's international reserves climbed to a historic peak of $198.4 billion as of October 17, extending a series of record-breaking performances. The latest data shows a $8.7 billion increase from the previous week's $189.7 billion, representing robust 4.6% growth in the country's foreign asset holdings.

Gold Reserves Lead Expansion

Gold reserves demonstrated particularly strong momentum, surging 8.6% to reach $111.2 billion. This substantial increase in gold holdings, which include physical gold deposits and swap arrangements, has become a defining feature of Türkiye's reserve accumulation strategy. Meanwhile, foreign currency reserves denominated in convertible currencies experienced a marginal 0.1% decrease to $79.6 billion during the same reporting period.

Consistent Record-Breaking Performance

This achievement marks the fourth consecutive week that Türkiye's international reserves have reached unprecedented levels. Over the past two months alone, the country's reserves have established new record highs on six separate occasions, reflecting sustained strength in the nation's external position and the effectiveness of the central bank's reserve management policies.

Broader Reserve Composition

Beyond the dominant gold and foreign currency components, the central bank's total reserve position at the International Monetary Fund, including special drawing rights, saw modest growth of 0.2% to $7.7 billion. The continued expansion of Türkiye's reserve buffer provides enhanced capacity to manage external financial pressures and supports the country's economic stability objectives.