March markets in Türkiye: Volatility and key developments ahead of April
March markets in Türkiye: Volatility and key developments ahead of April
March 29, 2025 02:03 PM GMT+03:00
March was one of the most volatile months in recent times. With the Eid al-Fitr holiday on March 31, trading will be closed, making March 28 the last trading day of the month.
March performance
- Gold: Gram gold gained 12.22%, closing at ?3,767, up from ?3,357 in February, becoming the best-performing asset.
- Stock market: BIST 100 index rose by 0.01%, closing at 9,659 points. It reached a high of 10,902 and a low of 8,872 points.
- Currency markets:
- US dollar: Closed at ?37.98 (+4.02% for the month).
- Euro: Closed at ?41.13, up 8.73%, benefiting from the EUR/USD movements.
What happened in March?
- US tariff developments: President Trump imposed a 25% tariff on car imports.
- Domestic political news: The investigation into Istanbul Metropolitan Municipality (IBB) over alleged corruption and the arrest of Ekrem Imamoglu impacted market sentiment.
What to watch in April
Markets will focus on the following 4 key events in April:
- April 2: The U.S. is to announce "reciprocal" tariffs.
- April 3: March inflation data release.
- April 17: CBRT interest rate decision.
- April 25: S&P Global credit rating evaluation.
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