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After the closing of the markets on Friday, the period until this morning witnessed major storms in economic management. First, on Friday night, the Governor of the Central Bank, Murat Uysal, was removed from office and replaced by Naci Ağbal. Then, the Minister of Finance and Finance, Berat Albayrak, shared his resignation last night from his Instagram account. In the statement made by the Presidency of Communications at 9:57 p.m., it was stated that “At the end of the evaluation carried out by our President, the request for amnesty from the Albayrak Minister of Finance and Finance was accepted.
The dollar / TL, which closed last Friday at the 8.51 level, was down to 8.18 as of this morning. Then it went up to 8.29. The euro / TL fell from 10.12 to 9.75 on Friday. Then it increased to 9.85.
“THE NECESSARY DECISIONS WILL BE MADE”
The fall in exchange rates accelerated after the statement by the new CBRT governor, Naci Ağbal, “Until the Monetary Policy Committee meeting on November 19, 2020, the current situation and expectations will be reviewed, it will be monitored in the evolution is close and the necessary political decisions will be taken in light of the data and evaluations that are formed. “
At 12:40, the dollar fell to 8.11 and the euro fell to 9.60 lire. In the afternoon, TL gained 5.3 percent against the dollar. This is the strongest daily increase since 2018. The dollar / TL fell back to 8.0237 during the day. After the domestic markets closed, it rose to 8.18 in international markets.
‘DEMO REQUEST ACCEPTED’
In the statement made by the Presidency of Communications at 9:57 p.m., it was stated that “At the end of the evaluation carried out by our President, the request for amnesty from the Albayrak Minister of Finance and Finance was accepted.”
After the appointment of Lütfi Elvan as Minister of Finance and Finance with the President’s Decree published in the Official Gazette after midnight, it dropped to 8.0647 in the international market.
TL became the most appreciated currency against the dollar in the world today.
CLOSING HIGHER THAN 9.5 MONTHS IN ISTANBUL BORSA
At Borsa Istanbul, the BIST 100 index started the week at 1,217 points with an increase of 2.10 percent. In the afternoon, the index’s rise exceeded 3 percent. The BIST 100 index completed the day at 1,231 points with a 3.32 percent increase in value, and achieved the highest close in 9.5 months. The increase in the BIST Banking index exceeded 7 percent.
The announcement that Pfizer’s coronavirus vaccine achieved 90 percent success was effective in accelerating the surge at Borsa Istanbul.
In addition, Turkey’s risk premium of 535 basis points, which also fell below 500. Turkey’s two-year bonds were valued.
