Imtilak Properties
25-04-2017

The Turkish capital markets witnessed remarkable growth following the results of the referendum held on April 16, in which citizens voted for an amendment to the general constitution of the country. This has led to a remarkable improvement in financial markets. This led Turkish lira to reach the forefront of global currencies, which has seen a significant increase in recent times, Turkish debt has witnessed a significant contraction amounted to approximately 36 billion Turkish liras.

The stability after the positive result of the vote led to a significant increase in the value of the Turkish lira against the US dollar. This contributed to raise the interest of investors in the Turkish lira, which also led to an increase in the stock market indices. This contributed to an increase in 45 billion Turkish liras in one day only due to the shortage of interest.

The positive result of the vote in favor of the Constitution contributed to a significant decline in foreign exchange rates. The dollar's price before one day the vote was 3.73 Turkish lira, while the number fell to 3.62 on the first day after the vote and dropped several times thereafter to 2.59 on 24 / 4/2017.

This led the Turkish lira to reach the forefront of global currencies, which has seen a significant increase in recent times, Turkish debt has witnessed a significant contraction amounted to approximately 36 billion Turkish liras.

The stock market reached its highest level in the recent period, where the market today is witnessing a significant increase due to the decline of the US dollar and the volume of transactions today, 93.269 points.