After U.S. President Trump took office, the trade policies he initiated regarding tariffs had an impact on Turkey, just as they did on global markets.
For the first time in history, the U.S. dollar surpassed 36 TL during the day. The BIST 100 index recorded a daily loss of approximately 2.2% as the session neared its close.
The decline in both foreign exchange and the stock market was also influenced by inflation data released by the Turkish Statistical Institute (TÜİK) for January. Inflation stood at 5.03% on a monthly basis, while it declined to 42.12% annually. Despite the decline, January inflation exceeded expectations.
Meanwhile, the euro also lost value against the dollar, with the EUR/USD exchange rate dropping by approximately 1% daily.
CANADIAN DOLLAR HITS A 22-YEAR LOW
The U.S. dollar index, which measures the performance of the dollar against major currencies, rose by about 1%, reaching a value of 109.4, marking a two-year high. At the same time, the U.S. dollar surged to 1.47 against the Canadian dollar, its highest level since 2003.
