Reserve Management


International reserves refer to ready-to-use assets accepted as an international payment instrument which are controlled by countries’ monetary authorities and are convertible to other currencies.

Assets classified as international reserves are:

  • Convertible foreign currency assets (euro, US dollar, British pound, etc.),
  • Gold complying with the international gold standard,
  • Special Drawing Rights,
  • International Monetary Fund (IMF) Reserve Position.

The level of foreign exchange reserves, particularly in emerging economies, plays a very important role in:  

  • Offsetting the adverse effects of likely domestic and external shocks,
  • Meeting external debt service obligations on a regular basis,
  • Promoting the country’s credibility in international financial environments and markets.

In Türkiye, the CBRT is responsible for keeping and managing the gold and foreign exchange reserves.

The CBRT keeps Türkiye’s reserves in line with the following objectives:

  • Building confidence in monetary and exchange rate policies and supporting these policies,
  • Making available the foreign exchange needed for payments of domestic and external foreign currency debt of the Treasury,
  • Rendering the Turkish economy resilient against unexpected domestic and external financial changes,
  • Enhancing the credibility of the Turkish economy in international markets.

In its reserve management, the CBRT gives priority to the country’s interests. Accordingly, it invests the international reserves in investment instruments with the lowest risk to preserve the principal and provide the liquidity needed.

The CBRT implements an effective risk management strategy to identify, assess and contain the risks that may be encountered during reserve management.

Moreover, the CBRT posts the amount of reserves it holds on its website at regular intervals. 

Central Bank of the Republic of Türkiye Foreign Exchange Reserve Management