The Turkish central bank’s total reserves renewed their peak, reaching a fresh all-time high of $147.6 billion (TL 4.85 trillion) as of June 21, according to official data released on Thursday.

The official reserve assets of the bank rose by $1.3 billion from a week earlier, the bank’s international reserves and foreign currency liquidity report showed.

Accordingly, as of June 21, the gross foreign exchange reserves of the Central Bank of the Republic of Türkiye (CBRT) increased by $62 million to $88.49 billion from $88.43 billion a week earlier.

During this period, gold reserves increased by $1.26 billion to $59.12 billion.

At the same time, a decline was observed in the CBRT’s net reserves as of last week. Net reserves, which were at the level of $47 billion in the previous week, decreased to $44.9 billion in the week of June 21.

However, the positive momentum in net reserves excluding swaps continued as they increased to $12.7 billion in the week of June 21 versus $11.4 billion a week earlier.

The CBRT has been steadily building its reserves since the beginning of April, driven by rising foreign interest and declining demand for foreign currency.

The net reserves departed the negative territory at the end of May, for the first time in nearly four years, marking a significant shift and boost for policymakers.

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