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A Treasury official who did not want to be named spoke to Bloomberg. The official said that after Albayrak’s resignation, individual investors and foreign investors sold dollars, while domestic companies were on the buying side.
According to the news in Bloomber HT, the details of the increase in the value of TL began to be clarified after the Minister of Finance and Finance, Berat Albayrak, resigned from his Instagram account the day before. According to the news, the exchange of resignation of the Minister of Finance and Finance, Berat Albayrak, the meeting of the new CBRT president, Ağbal, who was appointed at the weekend, and his first announcement, which was positively perceived in the market, were the main factors that determined the price on the first trading day of the new week.
MEETING WITH GENERAL DIRECTORS OF THE BANK
Borsa İstanbul continued its transactions with a high appetite for risk on the first trading day of the week. Multiple developments in the index had an impact on prices. The main developments behind the increase were the meeting of Naci Ağbal, the new president of CBRT, with some general managers of banks, the recognition in TL, and the news from Pfizer and BioNTech about the vaccination process on the global side.
BANKING AND TRANSPORTATION PLAYED THE MAIN ROLE
In the index, which started on the first trading day of the week with an increase of about 2 percent, premiums reached as much as 3.5 percent in the middle of the day, marking the highest level in 9 months. The banking sector with an increase of 8 percent and the transportation sector with a premium of more than 9 percent were the main indices that drove the index higher. Along with the rise in the index, trading volume moved towards the record level.
THE STRONGEST VALUE GAIN IN THE LAST 2 YEARS
The Turkish lira experienced the largest gain in value in the last 2 years with an appreciation of 5.5 percent against the dollar. Turkey’s 5-year term risk premium (CDS) retreated and rose to the 460 level to the lowest level in 6 months. The 5-year risk premium had increased to 652 levels.
Source: Blomberg HT
