Borsa Istanbul rebounds, Turkish lira recovers at open

ANKARA (AA) – Borsa Istanbul rebounded at the open Wednesday after it slipped in the last two days.

The BIST 100 index rose 0.33 percent or 259.98 points to open at 77,903.57 points.

In the last two days, the index has suffered from the rising value of the U.S. dollar in global markets in anticipation of a rate hike by the U.S. Federal Reserve.

In another gouge for market sentiment in Turkey, the U.S. dollar rate against Turkish lira also declined at the open as investors believing the dollar did not have capacity for an upside opted to secure their profits.

The U.S. dollar/Turkish lira exchange rate, which was at 3.0850 by the time markets closed at 5.30 p.m. (1430 GMT) Tuesday, slipped 0.2 percent to 3.0760 at the open 9.30 a.m. (0630 GMT) Wednesday.