Macro and Politics
Tacirler Investment
*Based on our calculations using the CBT’s analytical balance sheet, we estimate that during the week of October 10 – 17, net international reserves increased by USD2.5bn to USD81.6bn, while gross FX reserves soared notably by USD8.8bn to USD198.6bn. Accordingly, our calculations point to gross foreign exchange reserves reaching an all-time high. We anticipate that the official reserve data, to be released on Thursday, will likely reflect a similar rise in line with our estimates.