Turkey's foreign reserves hit record $130bn

Turkish Central Bank's foreign reserves had hit a record high of 130 billion dollars, Prime Minister Recep Tayyip Erdogan announced Friday. "I'm announcing for the first time that our Central Bank's reserves broke a record and reached 130 billion dollars," he said during a meeting of the Justice and Development Party (AKP). Data from the central bank indicated that the reserves had jumped from 127 billion dollars a week ago to a record high of 130. 2 billion dollars as of April 12. Analysts said that the fast increasing of foreign reserves was mainly due to the implement of an aggressive U.S. dollar purchasing policy by Turkish Central Bank since last year.