Turkish Central Bank gold reserves reach an all-time high of $178.4 billion, thanks to a gold price increase

The Central Bank of Turkey has reported a significant increase in its foreign exchange reserves, marking a new all-time high. According to the latest data, total reserves have grown to $178.4 billion, representing a more than $41 billion increase over approximately 20 months.

The growth in total reserves was primarily driven by a $2.09 billion surge in gold reserves, which now stand at $87.33 billion. This surge is part of a broader trend of gold accumulation by the Central Bank of the Republic of Turkey throughout 2025.

Gold reserves started the year at $68.23 billion, indicating a 2.5% increase over the course of the year. The increase in gold reserves has been a key factor in the overall growth of the Central Bank's reserves.

In addition to gold reserves, official reserve assets also increased by 1.2% to $178.4 billion. This increase was counterbalanced by a slight decrease in foreign exchange holdings, which declined by 0.1% to $83.3 billion.

The growth in reserves has also been reflected in the Central Bank's net international reserves, which rose by $1.87 billion, reaching $73.63 billion. Net international reserves is a key indicator of the country's external financial strength.

Predetermined foreign exchange obligations decreased by 0.2% to $56.4 billion, while contingent foreign exchange obligations increased by 0.7% to $59.3 billion. Central Bank foreign currency swap obligations stood at $19.6 billion.

The public sector's short-term foreign exchange obligations, including both the Central Bank and Central Government, increased by 0.3% to $115.7 billion. Foreign exchange holdings decreased slightly in the same period.

It is worth noting that the Governor of the Central Bank of Turkey responsible for the country's reserve accumulation is not explicitly named in the search results. Since 2019, the position has seen frequent changes due to firings by President Erdogan. The current governor's name is not provided in the available sources.

The International Monetary Fund (IMF) reserve position and SDR total rose by 0.1% to $7.7 billion. The Turkish Central Bank's total reserves reached an all-time high of $178.36 billion in the week ending Aug. 29.

This significant increase in reserves is a positive development for the Turkish economy, signaling a strengthening of the country's external financial position. The Central Bank's continued focus on accumulating reserves is likely to continue to support the country's economic stability in the coming months.

Turkish Central Bank gold reserves reach an all-time high of $178.4 billion, thanks to a gold price increase