Weekly Market Changes: Dollar Gained While Stock Market and Euro Dropped
While Borsa İstanbul BIST 100 index completed the week with an 8.18 percent drop, gold and Euro lost value; the only currency type that brought returns to its investors was the dollar.
Following a volatile week in the markets, Borsa İstanbul stocks lost an average of 8.18 percent in value. While gold and Euro prices showed a decline, the US dollar was the only foreign currency that provided returns to investors.
Sharp Drop in BIST 100 Index
The BIST 100 index in Borsa İstanbul gave investors a difficult week, closing the week with an 8.18 percent decrease at 13,284.42 points. During the week, the index tested a high of 14,355.46 points and a low of 12,817.01 points.
Limited Decline in Gold Prices
According to Grand Bazaar data, the indicator for the safe-haven gold pointed downwards. The gram sales price of 24-karat bullion gold decreased by 0.06 percent to 6,826 TL, quarter gold fell to 11,174 TL, and Republic gold dropped to 44,450 TL.
Mixed Course in Exchange Rates
In the foreign exchange market, the dollar and Euro moved in different directions. While the US dollar closed the week with a 0.36 percent increase at the level of 48.7810 TL, the Euro suffered a 0.91 percent loss, retreating to 55.9580 TL.
Investment and Pension Funds
The decline in the stock markets was also reflected in the funds. On a weekly basis, investment funds lost 2.57 percent and pension funds lost 1.74 percent in value; the only category that provided returns to investors was money market funds with a 0.65 percent increase.