Turkey cenbank gross reserves likely fell $3.5 bln last week -bankers

Credit: REUTERS/Umit Bektas

ANKARA, May 23 (Reuters) - Turkish central bank gross reserves are expected to have fallen some $3.5 billion to about $101.5 billion last week, calculations of five bankers showed on Tuesday.

The net forex reserves are highly likely in negative territory for the first time since 2002, bankers said.

The fall in gross reserves amounted to between $3.3 billion and $3.7 billion last week, they said.

The central bank's total gross reserves decreased $9 billion in the week before elections in Turkey on May 14 to $105.13 billion, the lowest since July 2022.

(Reporting by Nevzat Devranoglu; Writing by Huseyin Hayatsever; Editing by Tom Hogue)


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