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

Newsquawk StaffPublished 24 Mar 2026, 11:21 UTC

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11:05

[MARKET UPDATE] Spot gold briefly dips under USD 4,400/oz following reports the CBRT reportedly discussed gold-for-FX swaps

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11:01

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

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Context

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.

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