The Turkish Central Bank's total reserves rose by $944 million to hit $120.1 billion last week, for the first time since November 2016.
According to weekly money and bank statistics published by the bank, the gross foreign exchange reserves increased by $1.6 billion to $79.6 billion on Sept. 10, from $78.5 billion on Sept. 3.
The Turkish Central Bank's reserves amounted to $92 billion at the end of May, according to data released on June 28.
Total reserve assets saw a monthly increase of 4.6%, according to the bank's international reserves and foreign currency liquidity report.
Foreign currency reserves- in convertible foreign currencies- totaled $46.5 billion, up 2.3% on a monthly basis.
Turkey's Central Bank on April 29 increased the country's year-end inflation forecast to 12.2% for this year, up from 9.4% in its previous report.
The figure is expected to fluctuate between 10% and 14.4% through the end of this year, Şahap Kavcıoğlu, the bank's governor, told a virtual meeting held to release the bank's second quarterly inflation report in 2021.
The Turkish Central Bank has been using the legal authority given to it by laws to keep the foreign exchange markets under control and protect the value of the Turkish Lira, Treasury and Finance Minister Lütfi Elvan said on April 19.
"The Central Bank has been using the inflation targeting regime since 2006," Elvan said in an interview with news channel NTV.
The Turkish central bank (also known as CBRT or TCMB) has issued "Regulation on the Disuse of Crypto Assets in Payments." It was published Friday in the official newspaper of the Turkish government.
The central bank also announced Friday that "studies on the regulation regarding the disuse of crypto assets in payments have been completed."