Turkey spent tens of billions of dollars in foreign exchange reserves and gold in 2026 to protect the Turkish lira.
About 26 billion dollars in foreign currency was sold during the first month of the Iran war.
Gold reserves fell by almost 120 tons in just two weeks.
The total balances of the central bank decreased by about 55 billion dollars in one month.
Net international balances fell to $38 billion at the end of October.
Despite these interventions, the pound has lost about 14.4% of its value against the US dollar since the beginning of 2026.