EL7.AI
Macro EconomyMediumUpdated•Originally published 24 March 2026•Updated 24 March 2026•
1 min read

Turkey Depletes $30bn in Lira Support; Gold Reserve Sales Loom Amid Regional Tensions

Key Facts

1Turkey's central bank has spent $30bn to support the lira as foreign investors exit Turkish assets.
2There is a rising prospect of Turkey selling gold reserves to prop up the local currency.
3These pressures stem from the Iran war and its impact on regional capital flows.

Turkey's central bank has spent approximately $30 billion to support the lira as foreign investors accelerate their exit from Turkish assets. The massive capital flight is largely attributed to the ongoing war involving Iran, which has significantly disrupted regional capital flows. As foreign exchange reserves dwindle, analysts suggest that Ankara may soon be forced to sell gold reserves to stabilize the currency. The depletion of liquid assets highlights the growing vulnerability of the Turkish economy to geopolitical shocks. Potential gold liquidations by a major central bank holder could introduce new supply-side pressures on global XAU/USD prices. Market participants are closely monitoring the CBRT's next moves as the pressure on the lira continues to intensify.