Macro and Politics
Tacirler Investment
* Based on our calculations using the CBT’s analytical balance sheet, we estimate that during the week of December 12 – 19, the CBT’s gross FX reserves increased by USD1.4bn to USD192.3bn, while net international reserves rose by USD0.8bn to USD80.3bn. The CBT is scheduled to release its official reserve data later this week, on Thursday, 25 December, at 14:30. We expect the official figures to confirm an increase broadly in line with our estimates.