Nov 06, 2024 (MENAFN via COMTEX) --
(MENAFN) On Wednesday, the Turkish benchmark stock index opened at 8,647.94 points, reflecting a modest increase of 0.34 percent, or 29.37 points, from the previous close. This marked a slight recovery after a dip on Tuesday, when Borsa Istanbul's BIST 100 index fell by 0.52 percent, closing at 8,618.57 points. On that day, the transaction volume reached 68 billion liras, equivalent to approximately US1.97 billion, indicating a fairly active trading session despite the decline.
As of 10:24 a.m. (0724 GMT), the exchange rates showed the U.S. Dollar standing at 34.2625 against the Turkish lira (USD/TRY). The euro was trading at 36.8526 (EUR/TRY), while the British pound was at 44.1209 (GBP/TRY). These figures reflect ongoing currency volatility, with the lira experiencing fluctuations against major global currencies.
In the commodities market, the price of gold remained relatively strong, with one ounce valued at US2,733.85. The gold price has been supported by global economic uncertainty, making it a preferred asset for investors seeking stability. Meanwhile, the price of Brent crude oil stood at around US74.44 per barrel. Despite fluctuations in oil demand and geopolitical concerns, the price of oil has maintained a level of stability.
Overall, the Turkish economy continues to grapple with currency volatility, inflation, and fluctuations in global commodity prices. The stock market's performance, along with the exchange and commodity prices, reflects a complex and challenging economic environment, influenced by both domestic and international factors.
MENAFN06112024000045015839ID1108856863
COMTEX_459544183/2604/2024-11-06T22:56:52
