August 6, 2018 / 5:08 AM / 8 months ago

Turkey - Factors to Watch on August 6

ISTANBUL, Aug 6 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Monday

The lira stood at 5.1125 against the dollar at 0459 GMT, after weakening to an all-time low of 5.1180 on early morning trade. It had closed at 5.0860 on Friday.

The main BIST 100 share index rose 1.13 percent to 95,610.48 points on Friday.


Stocks across Asia advanced on Monday as China’s efforts to stop sharp declines in its currency and capital flight supported wider sentiment in the region, although the escalating Sino-U.S. trade conflict has capped gains.

Late on Friday, the People’s Bank of China raised the reserve requirement on some foreign exchange forward positions, making it more expensive to bet against the Chinese currency and helping pull the yuan away from 14-month lows.


Steps taken by the United States about pastor Andrew Brunson were not suitable for a strategic partner and were disrespectful to Turkey, President Tayyip Erdogan said on Saturday adding that Ankara will freeze any asset in Turkey of U.S. interior and justice ministers.


Turkish lira weakened to an all-time low against the dollar reflecting investor concern about a widening diplomatic rift with the United States.


The Trump administration is reviewing Turkey’s duty-free trade access to U.S. markets under the Generalized System of Preferences after Ankara imposed retaliatory tariffs on $1.78 billion of U.S. goods in response to American steel and aluminum tariffs.

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Istanbul National-100 stock index, interbank lira trading, lira bond trading (Compiled by Ezgi Erkoyun)

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