Turkey’s week-on-week gross FX reserves fell 2 percent
The Turk sh Central Bank’s gross fore gn exchange reserves decl ned by two percent week-on-week to $86.2 b ll on as of May 4 from $87.6 b ll on on Apr l 27, the Central Bank sa d on May 10. The FX reserves were $83.1 b ll on on Apr l 6, the lowest level recorded s nce June 2012. The TRY was trad ng at 4.2291 aga nst the USD as of 21:30 local t me, hav ng strengthened 1.36 percent dayon-day. The currency had lost around 12 percent aga nst the USD s nce the beg nn ng of the year. The gross FX reserves stood at $92.9 b ll on at the end of 2015, compared to $92.05 b ll on at the end of 2016 and $84.1 b ll on at the end of 2017. The latest data also showed the Central’s Bank’s gold reserves sl ghtly decl ned to $24.8 b ll on as of May 4 from $25.2 b ll on on Apr l 27. The gold reserves saw a record h gh of $25.72 b ll on on March 23.