TL Assets Are Appreciated Before PPK Meeting

TL Assets Are Appreciated Before PPK Meeting TL assets are appreciated before the PPK meeting. While exchange rates and gold prices are falling, stock markets are moving in parallel with the global situation. The resignation of Minister of Treasury and Finance Berat Albayrak after the dismissal of CBRT President Uysal and the appointment of Naci Ağbal last week, brought movement in the markets. With these developments, a decrease began to be observed in exchange rates. The appointment of Lütfi Elvan to the Ministry of Treasury and Finance and President Erdoğan's emphasis on the 'new era in the economy' accelerated the decline in exchange rates. Erdogan's emphasis on reform in the fields of economy and law and taking steps to reduce inflation created an atmosphere of confidence in the markets. Accordingly, TL assets rapidly gained value in a short time. With the establishment of trust, investors also turned to TL assets and the Turkish Lira gained 10 percent. At the time of writing, the dollar / TL rate decreased to 7,6380 and the euro / TL exchange rate to 9,0380. In the first week of November in excess of 530 bp in the 5-year USD CDS Turkey recorded the lowest level in March and then descend to 392 bp. TL continues positive decoupling before the PPK meeting to be held at 14:00. Despite the increasing number of cases, ounce of gold falls below $ 1,850 with positive vaccination news and the dollar rate has weakened, and gram of gold is losing 1 percent. In these minutes, gram of gold traded at levels of 459 liras. As for the BIST 100 index in Borsa Istanbul, the decrease seen in the stock market is parallel to the world stock markets. The decrease in global markets due to the rapidly increasing number of coronavirus cases all over the world is reflected in the BIST 100 index as a decrease.