After “Interest Rate Decision”, Turkish Funds in USA enjoy highest entry in last four years

Turkish funds also got active in the United States after the Central Bank raised the interest rate by 650 basis points from 8.5 percent to 15 percent. With the depreciation of the TL in the week of MB’s interest rate decision, the highest inflow of the last four years occurred to the Turkish exchange-traded fund traded in the United States.

At the first Monetary Policy Committee (PPC) meeting chaired by CBRT President Hafize Gaye Erkan, the policy rate was increased from 8.5 percent to 15 percent with an increase of 650 basis points. According to Bloomberg HT, investors made a net purchase of $ 25 million from the iShares MSCI Turkey ETF traded in New York last week.

According to Bloomberg HT, As the lira continued to fall and the start of the transition to more orthodox policies in the country supported purchases, foreign investors accelerated their inflows to the US-traded exchange-traded fund (ETF), which tracks movements on the Turkish Stock Exchange.

The iShares MSCI Turkey ETF traded in New York attracted $25 million in inflows last week as the Turkish lira depreciated after a lower-than-expected interest rate increase.