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FinancialNews
18-04-23
Borsa Istanbul's BIST 100 Index Opens Monday's Session With Increases
(MENAFN) The benchmark stock index of Turkey, Borsa Istanbul's BIST 100, opened higher on Monday at 5,112.01 points, with an increase of 0.38 percent, or 19.13 points, from the previous close. The BIST 100 index closed on Friday at 5,092.88 points, with a decrease of 0.83 percent and a daily trading volume of 48.7 billion Turkish liras (USD2.5 billion).
The US dollar/Turkish lira exchange rate remained stable at 19.3710 as of 10:06 a.m. local time (0706GMT). The euro/lira exchange rate stood at 21.3056, while a British pound was traded for 24.0670 Turkish liras. These exchange rates are crucial for Turkey's economy, as they affect the country's imports, exports, and foreign investments.
In the global market, Brent crude oil was selling for around USD86.27 per barrel. The price of an ounce of gold was USD2,026.30, which is higher than the previous week due to the US Federal Reserve's decision to maintain interest rates and concerns over inflation.
The stability of the US dollar/Turkish lira exchange rate is a positive sign for Turkey's economy, which has been facing various challenges, including high inflation rates and a recent currency crisis. The country's government and central bank have been implementing various measures to strengthen the economy, such as increasing interest rates and providing financial support to businesses affected by the pandemic.
The opening of Borsa Istanbul's BIST 100 index higher on Monday indicates investor confidence in Turkey's economy. The stability of the exchange rates is also a positive sign, as it helps to attract foreign investments and boost the country's economic growth. However, the situation remains uncertain, and the government and central bank must continue to monitor the economic indicators closely to ensure the stability of the economy.
MENAFN18042023000045014228ID1106029962
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