CBRT mulls tapping USD 135bln gold reserve for Lira defense, Bloomberg reports, citing sources; held discussions about conducting gold-for-foreign currency swap transactions in the London market

The Central Bank of the Republic of Turkey (CBRT) is considering leveraging its substantial gold reserves, reportedly valued at USD 135 billion, to defend the Lira through potential gold-for-currency swaps. This move highlights the CBRT's efforts to stabilize the currency amidst ongoing pressure, which may influence forex markets and impact perceptions of the Lira's stability going forward.