Dollar / TL Started the Day with Slight Increase

Dollar / TL Started the Day with Slight Increase Dollar / TL started the day with a slight increase. The dollar / TL exchange rate, which fell sharply last week due to the heavy news flow, increased slightly this week. With the busy agenda of the economy last week, the dollar / TL rate, which completed Friday at 7.6553, moved positively on the first trading day of the week. The exchange rate was traded at 7.7386, with a value gain of around 0.40 percent in the morning hours of Tuesday, and Euro / TL became 9.177. In Borsa Istanbul, the BIST 100 Index started the day at 1.291 points, minus 0.10 percent. Last week, the Turkish Lira experienced the strongest weekly gain of the last 19 years. Daily trading volume in the BIST ALL index reached 60.8 billion TL, while the trading volume in the BIST 100 Index reached its highest level with TL 52.5 billion. Last week, at Central Bank of the Republic of Turkey (CBRT), Naci Ağbal was appointed as Chairman to Murat Uysal’s position. Also, Berat Albayrak, who resigned from the Ministry of Treasury and Finance was replaced by Lutfi Elvan. Speaking at the AK Party group meeting, President Recep Tayyip Erdogan's messages on the economy also strengthened the expectations of a rate hike for the Central Bank's policy meeting to be held on Thursday. CBRT will hold a policy meeting for November next Thursday. Turkey's two year term Treasury bonds compound rate was 13.99, 10 year interest annually was recorded as 13.21 percent. The 10-year eurobond interest rate fell to 5.65 percent. The 5-year loan default swap (CDS) premium had dropped below 400 basis points over 500 basis points last week. The country risk premium is slightly above 400 basis points. The quarterly implied volatility in the USD / TL exchange rate decreased from 22.11 percent to 20.33 percent. 3-month historical volatility increased from 12.85 percent to 14.49 percent. Gram of gold traded at the level of 469 liras.