Istanbul Stock Exchange Sets New Historic Record

Trading on the Istanbul Stock Exchange closed with the BIST100 index at 2,601.56, the Istanbul stock market rose by 32.80 points (1.28%).

According to TASS, this is evidenced by the auction data.

The total volume of transactions amounted to 40.9 billion Turkish liras (almost $2.5 billion), which is a record high for the last time.

Analysts note that fears about inflation and recession continue to affect the value of assets. Turkey's annual inflation is expected to rise from 69.97% last month to 77.72%.

The Turkish authorities have been pursuing the so-called new economic policy since the end of last year, with an emphasis on de-dollarization. For the fifth month in a row, the Central Bank of the country keeps the discount rate unchanged at weekly repo auctions at 14%. At the same time, many local economists are talking about the need to raise the rate against the backdrop of volatility in financial markets and high inflation.