TCMB Reserves Hit Lowest Point in a Year After Historic Peak

Turkey's central bank reserves have fallen to their lowest point in a year, with a significant decrease of approximately $8.2 billion in the week ending June 26. This drop brought the total reserves down to about $149 billion, according to calculations by Matriks Haber based on Central Bank of the Republic of Turkey (TCMB) data. The previous week, reserves stood at $157.2 billion.

The latest figures place the TCMB's reserves below the previous one-year low of $152.1 billion, which was recorded in the week of June 12. Official data released last week had shown a $5.115 billion increase, bringing reserves to $157.196 billion. However, this upward movement proved temporary.

Since reaching a historic peak of $218.2 billion in the week of January 30, TCMB reserves have experienced a volatile but generally downward trend. In the last four weeks alone, reserves have dropped from above $160 billion to the current $149 billion level. Official data for the TCMB's reserves will be announced on Thursday, July 2, at 2:30 PM.