Turkish Cenbank Gross Reserves Rose $7.5 Bln Last Week, Traders and Data Say
Türkiye's central bank continued to buy foreign currency last week, lifting its total reserves by $7.5 billion, bankers' calculations from data show on Tuesday.
Market turmoil erupted in March over the detention and jailing of Istanbul Mayor Ekrem Imamoglu, who is President Recep Tayyip Erdogan's main political rival, triggering a policy pivot including selling some $57 billion to protect the market stability and a hike in the bank's key interest rate last month.
Bankers' calculations, based on preliminary data, also showed that the central bank's net reserves rose by $8 billion last week.
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