CBRT Rebuilds Reserves With $13 Billion in FX Purchases

The Central Bank of the Republic of Türkiye (TCMB) has ramped up its efforts to replenish foreign currency reserves, purchasing $13 billion over the last three weeks, following months of intense capital outflows earlier in the year.

According to preliminary data sourced from the banking sector, the TCMB added $7.5 billion to its reserves last week alone, with net reserves rising by approximately $8 billion. This surge brings gross reserves to an estimated $153 billion and net reserves to $48 billion, marking a notable reversal in Türkiye’s reserve trajectory.

Recovery Follows $57 Billion Reserve Drain During Political Turmoil

The recent rebound follows a sharp depletion in reserves triggered by political unrest—most notably, the detention of Istanbul Metropolitan Mayor Ekrem İmamoğlu. During the uncertainty surrounding his arrest, the Central Bank had to sell off an estimated $57 billion to stabilize markets.

As reported by T24, the current round of foreign exchange accumulation represents a strategic shift after a turbulent first half of 2025.

Governor Karahan: Reserve Recovery Underway

Earlier in May, Central Bank Governor Fatih Karahan addressed the Turkish Parliament, confirming that the decline in reserves had halted and that the institution had entered a rebuilding phase.

“As long as market conditions allow, we will continue to accumulate reserves,” Karahan stated, underlining a cautious but firm approach to rebuilding confidence in Türkiye’s macroeconomic stability.

Reserves Seen as Key to Economic Stabilization

Rebuilding FX reserves is viewed as critical to the Central Bank’s broader monetary strategy, especially in an environment shaped by elevated inflation, geopolitical uncertainty, and domestic political tensions.

With net reserves rising steadily and dollar purchases resuming, analysts suggest that the TCMB is preparing for future volatility while also strengthening its monetary policy credibility.