In the free market, the dollar is bought at ₺32.3730 and sold at ₺32.3750 on Friday.
The selling price of the euro, bought at ₺34.9780, is determined as ₺ 34.9800. The selling price of a gram of gold is ₺ 2,325.76.
Despite perception operations, the dollar rose by 9.8% in the first quarter of 2024. During this period, the Lira deposits (average) gained 12%, gram gold increased by 19%, and the stock index surged by 21.5%, outperforming the dollar.
The Lira deposits gained an average return of 12% during the first quarter, while gram gold and the stock index (BIST100) significantly outpaced the dollar with gains of 19% and 21.5%, respectively.
However, these gains failed to protect against the expected first-quarter inflation, which is predicted to exceed 10%.
In recent weeks, speculative publications regarding "post-election dollar expectations" have misled the public and harmed Türkiye's macroeconomic balances.
Analyzing the interest rate speculations, economist Altug Ozaslan said: "If there weren't so many 'they can't hold the exchange rate' posts on social media, the CBRT wouldn't have burned through so many reserves. Wasn't it said that interest rates couldn't be raised before the elections? It turns out it can be done. Social media publications should be regulated now."
"The Capital Markets Board (SPK) and the Radio and Television Supreme Council (RTUK) could collaborate, and YouTube channels could be intervened with. Uncertain individuals making comments devoid of certain fundamental bases should be prevented from doing so," Ozaslan added.
The current gold selling prices are as followed:
Despite no significant weakness in the dollar index and U.S. Treasuries in recent times, the enthusiasm for a rise in the price of gold has reached noteworthy levels. In this regard, three main reasons stand out:
Source: Newsroom