Turkish markets rebound

ISTANBUL (Reuters) – The Turkish lira and bonds both rallied yesterday in a rebound from recent losses, spurred on by gains on foreign markets, while shares also closed slightly higher. The lira closed at 1.3285 against the dollar on the interbank market, firming 1.4 percent from 1.3465 on Wednesday when it weakened against the dollar as US Treasury yields rose to five-year highs. Bonds also firmed, with the yield on the benchmark February 4, 2009 lira bond falling to 18.51 percent from 18.71 percent a day earlier. The main Istanbul share index closed 0.1 percent higher at 44,675.54, having risen 0.58 percent on Wednesday. Investors were still awaiting a decision by President Ahmet Necdet Sezer on whether to approve a government-backed constitutional reform package or seek a referendum on it.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.