According to estimates from four banking experts, the gross reserves of the Turkish Central Bank are projected to increase by $4 billion, reaching an all-time high of $183 billion as of last week.
Earlier in the month, market participants noted that the central bank resumed efforts to enhance its foreign exchange reserves after depleting nearly $10 billion over a two-week period to mitigate declines in the lira, as well as the stock and bond markets due to heightened political uncertainties.
Banking professionals indicated that the central bank’s net reserves are also likely to grow by $2.5 billion, amounting to $73 billion, while net reserves excluding swaps may rise by $4 billion to $57 billion.
They reported that the bank purchased approximately $2.5 billion last week following a previous sale. The central bank is scheduled to release its reserve figures for the past week on Thursday.
The central bank has not provided immediate feedback regarding the reserve estimates.