Newsletters
The most profitable investment instrument of the week in Türkiye was the stock exchange as the benchmark index ended the week with an 8.78% gain, closing at 10,507.11 points following better-than-expected February inflation and continuing interest cut cycle.
The BIST 100 index fluctuated between a low of 9,748.03 points and a high of 10,556.78, eventually surpassing last week's closing level.
Trading activity remained robust, with the total transaction volume hitting ?134.4 billion ($3.68 billion) and the overall market capitalization standing at ?9.28 trillion.
3 min read
The Turkish lira experienced mixed movements against major currencies. The USD/TRY exchange rate dipped 0.18% to 36.4480, while the EUR/TRY rate surged 4.19% to 39.5810. The GBP/TRY exchange stood at 47.0915 by the end of the trading session.
Meanwhile, gold prices continued their upward trajectory, with the price of an ounce reaching $2,925.50. In domestic markets, the price of one gram of 24-karat gold rose 2.34% to ?3,418.
Investment funds recorded an average weekly gain of 1.76%, while pension funds rose 2.80%. Among various categories, equity investment funds led the gains, climbing 5.92% over the week.
February’s inflation figures, released by the Turkish Statistical Institute (TurkStat) on March 3 showed that annual inflation fell to 39.05%, beating market expectations of 39.9%.
Following the promising data, the Central Bank of the Republic of Türkiye (CBRT) continued its rate-cut cycle for the third consecutive month, reducing the policy interest rate by 250 basis points.
1 min read
