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2025-10-28 17:27:53
[Turkish Central Bank Reserves Evaporated by $13 Billion in a Single Week, Political Uncertainty Triggers a Huge Shock] ⑴ The Turkish Central Bank's gross reserves are estimated to have fallen by $13 billion to $185.5 billion last week, with net reserves estimated to have fallen by $12 billion to $67.5 billion. ⑵ Over $5 billion of the reserve decline was due to falling gold prices, while another $5 billion was used to mitigate market volatility caused by political uncertainty. ⑶ The sharp decline in reserves coincided with the trial of a legal case seeking to remove the leader of the main opposition party, although the case was dismissed by the court last Friday. ⑷ Official reserve data will be released later this week, and the lira and local currency assets have already strengthened significantly since the dismissal of the case.
