Turkish Lira appreciated by 5.3 percent
Markets started the new week with activity. USD / TRY, presidential change experienced in the Central Bank of Turkey, the United States Biden's race and then finish ahead of Treasury and Finance Minister Albayrak's resignation began declining shares on Instagram tough new week. TL's gain against the dollar reached 5.3 percent. This is the fastest rise in the Turkish lira in 2 years. Closing the 8.51 level last Friday, the Dollar / TL declined to 8.0237. BIST 100 Index rose 2.7 percent in Borsa Istanbul.
After the markets closed on Friday, the period until this morning witnessed big storms in the economy management. First, on Friday night, Central Bank Governor Murat Uysal was dismissed and replaced by Naci Ağbal. Then, Treasury and Finance Minister Berat Albayrak shared his resignation from his Instagram account last night.
The dollar / TL, which closed last Friday at the level of 8.51, fell to 8.18 as of this morning. Then it climbed to 8.29. Euro / TL fell from 10.12 to 9.75 on Friday. Then it increased to 9.85.
The decline in exchange rates accelerated after the new CBRT Governor Naci Ağbal's statement, "The current situation and expectations will be reviewed and the developments will be closely monitored until the Monetary Policy Committee meeting dated 19 November 2020; necessary policy decisions will be made in the light of the data and evaluations to be formed." / p>
As of 12.40, the dollar fell to 8.11, and the euro fell to 9.60 lira. In the afternoon, TL earned 5.3 percent against the dollar. This is the strongest daily rise since 2018. Dollar / TL decreased to 8.0237.