US dollar gains against turkish Lira, ISE drops

U.S. dollar gained value against the Turkish lira while Istanbul Stock Exchange decreased significantly on Friday.

US dollar gains against turkish Lira, ISE drops

U.S. dollar gained value against the Turkish lira (TL) while Istanbul Stock Exchange (ISE) decreased significantly on Friday.

Both U.S. dollar and Euro gained value against TL, climbing up to 1.57 TL and 2 TL respectively in Istanbul free market.

With such increase, USD reached its level in June 2009 while Euro reached its value on April 20.

One dollar was traded at 1.539 TL and Euro was traded at 1.961 TL in Istanbul free market on Thursday.

Moreover, Istanbul Stock Exchange fell 3.66% in closing of morning session on Friday.

The index fell 2,042.7 points and closed at 53,720.87. The index closed a session below 54,000 points for the first time since March 22.

The weekly loss of the index reached 8.88% or 5,238.23 points.

Commenting on the developments in the market, ISE's head Huseyin Erkan said yesterday's alleged erroneous sales at the U.S. stock market did not take place at the Istanbul Stock Exchange.

Erkan said such a wrong order or big transaction could not be conducted at ISE.

ISE's head official also said that the erroneous transactions at the U.S. stock exchange caused confusion and concern, affecting all the markets.

"I also believe that the ongoing uncertainty in Europe may also have an impact. Therefore, it looks like all the markets will be under influence today," he added.


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Last Mod: 07 Mayıs 2010, 14:44
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