The Central Bank of Turkey aims to reinforce and effectively manage the country’s reserves, consistent with a steady rise, the bank's governor said Thursday, Anadolu Agency reports.
In an exclusive interview with Anadolu Agency, Murat Cetinkaya said the bank continues to decisively implement its reserve-building policy.
"Although reserves may fluctuate due to periodic factors, there has been a consistent uptrend in reserves in the medium term," Cetinkaya said.
"Over the last week, our gross reserves have increased across all items by $4.3 billion and by March 27 reached $96.7 billion.
"During the same period, our net reserves also rose $2.4 billion to $28.6 billion," he added.
Early Thursday, the bank reported that its official reserves reached $100.1 billion as of the end of February.
Total reserve assets climbed 3.4 percent in February, up from $96.7 billion at the end of January.
Foreign currency reserves amounted to $77.6 billion in convertible foreign currencies, rising 3.7 percent over the same period.
Gold reserves surged 2.8 percent to $21 billion including gold deposits and, if appropriate, gold swapped.
On a yearly basis, the bank's official reserves posted a 12.6 percent fall, as at the end of February 2018 the amount was $114.5 billion.