Treasury and Finance Minister Mehmet Şimşek said, “As of June 7, gross reserves increased to 146.2 billion dollars and net reserves excluding swaps increased to 6 billion dollars. The increase in net reserves excluding swaps since the beginning of April has reached 71.5 billion dollars.”
Treasury and Finance Minister Mehmet Şimşek made statements on the Central Bank of the Republic of Turkey (CBRT) reserves in a post on his social media account. Stating that gross reserves are at a historical high level, Minister Şimşek said, “As of June 7, gross reserves increased to 146.2 billion dollars and net reserves excluding swaps increased to 6 billion dollars. The increase in net reserves excluding swaps since the beginning of April has reached 71.5 billion dollars. Exchange Rate Protected Deposits (FXPD) stock decreased by 38.4 percent compared to August 2023, down by TL 1.3 trillion. While the share of TL deposits in the total increased by 16.8 points, the share of FX deposits decreased by 12.9 points and the share of foreign currency deposits decreased by 3.8 points.”
Noting that foreign resource inflows as well as reverse dollarization contributed to the increase in reserves, Şimşek said that the macro financial stability, which they strengthened by reducing vulnerabilities, will provide significant support in achieving the goal of permanent price stability.
