Exchange rates and stock markets fall due to expectations from cabinet meeting

Exchange rates and the stock market have seen a noticeable decline this afternoon,. Experts point to the prospects for the evening’s cabinet meeting as the reason for the move.

While there is a noticeable fluctuation in exchange rates and the stock market in Istanbul today, experts point out that the Central Bank’s interventions by selling reserves, as well as expectations for the cabinet meeting to be held this evening, may have been instrumental in the fluctuation.

The Euro/TL, which saw 17.04 at noon today, declined to 16.76 by midday. The dollar/TL, which saw 15.97 in the morning, also retreated to 15.70 in the afternoon.

The BIST 100 index in Istanbul, the stock Exchange that opened at plus in the morning, also went to minus in the afternoon, and the decline in the index approached 1 percent.

NEW PRODUCT EXPECTED TO BE ANNOUNCED IN THE EVENING

Experts pointed out that expectations that the inflation-indexed bond could be announced after the cabinet meeting in the evening brought a decrease in exchange rates and a sale on the Istanbul Stock Exchange.