The Turkish Minister of Treasury and Finance, Mehmet Şimşek, announced on Tuesday that the volume of foreign exchange reserves in the country had increased to 108.6 billion US dollars at the end of last June.

Şimşek wrote on Twitter, “The central bank’s foreign exchange reserves, which were $98.5 on May 26, rose to $108.6 billion on June 30”.

He added, “Net foreign exchange reserves improved by $14.2 billion in the same period”.

The net foreign exchange reserves of the Central Bank of Türkiye fell in early June to unprecedented levels.

Official data showed that foreign exchange reserves in the Turkish Central Bank fell to “- 5.7 billion dollars,” which is the lowest level ever recorded.

The Turkish Central Bank have decreased by more than 33 billion dollars since the end of 2022.

Turkish Finance Minister Şimşek and the head of the Central Bank, Hafize Gaye Erkan, plan to visit Saudi Arabia, after a similar visit to the UAE and Qatar in the context of attracting investments to the country.

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