The Central Bank of the Republic of Turkey, the CBRT announced that it increased the interest rates as a result of the MPC meeting at 14.00. The CBRT raised the interest rate, which was 15% at the previous meeting, by another 250 basis points to 17.5%. Although the interest rate decision from the Central Bank is below the expectations, the calm progress in the dollar, gram gold and Borsa Istanbul continues for now.
Latest Situation in Dollar TL
The dollar rate, which started to rise after the previous CBRT meeting, remains calm this time. Dollar-TL parity, which has gained 3% since the beginning of the week, is currently trading at the limit of 27 TL.
The news from President Erdogan’s visit to the bay may have extinguished the fire of foreign currency for now. Official sources announced that Turkey signed a $50.7 billion deal with the United Arab Emirates.
The Rise In Ounces Is Reflected On The Price Of Gram Gold
Although the price of gram gold rises due to foreign exchange, the movement in ounces also pleases its investors. In addition to the movement in the dollar rate, the increase in the ounce price caused the gram gold to appreciate 4.55% since the beginning of the week.
The precious metal, which broke records after a record in the last few days, is currently selling for 1,715 TL.
BIST 100 is Running to New Heights!
Borsa Istanbul index BIST 100, which moved up after the elections, continues its breathless rise. The stock market, which sold about 4% in the first days of the week, made up for the losses on Wednesday and Thursday. The CBRT interest rate decision announced today did not cause any sales in the stock market as of 14.30.
BIST 100 index is currently at 6,653 points.
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