Turkey's Borsa Istanbul up at Friday's open

BIST 100 index rises 0.90% compared to Thursday's close, Turkish Lira gains ground against foreign currencies

By Tuba Sahin

ANKARA (AA) - Turkey's benchmark stock index was up 0.90% or 794.53 points to open at 89,480.41 points on Friday.

On Thursday, Borsa Istanbul's BIST 100 index dropped 1.76% to close at 88,685.88 points with a daily trading volume of 5.17 billion Turkish liras ($833 million).

Turkish Lira gained value against foreign currencies in the wake of Central Bank's move on Thursday to change reserve requirement ratios to support the stability in financial markets.

"The upper limit for the FX [foreign exchange] maintenance facility within the reserve options mechanism has been lowered from 40% to 30%," the bank said.

The U.S. dollar/Turkish lira exchange rate stood at 6.1270 as of 9.30 a.m. local time (0630GMT) Friday, compared to 6.2400 at the last close.

The euro/Turkish lira exchange rate was 6.8850, versus 7.0280 at Thursday's close, and one British pound was exchanged for 7.9870 Turkish liras, compared to 8.1290.

One barrel of Brent oil was sold for $70.60 as of 10 a.m. local time (0700GMT) on Friday.

Kaynak:

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