The top-performing investment vehicle of the war week has been revealed
As markets fluctuated following the conflicts in the Middle East, the winner for investors in Turkey has been determined. The weekly gain and loss table for everything from foreign exchange and the stock market to gold and funds has been shared.
12punto
The war that broke out in the Middle East under the influence of attacks carried out by the US and Israel against Iran has also reflected on financial markets in Turkey. In the week the war began, while there were sharp declines in Borsa Istanbul stocks and gold prices, the dollar/TL became the only major investment vehicle to gain value, albeit limited.
The Borsa Istanbul BIST 100 index fluctuated between 12,746.23 and 13,456.56 points throughout the week and closed at 12,792.81 points, losing 6.74 percent in value compared to the previous week.
The selling price of 24-karat gram gold in the Grand Bazaar also disappointed investors. Gram gold decreased by 2.46 percent on a weekly basis and traded at 7,202 liras. During the same period, the Republic gold lost 2.45 percent in value to 48,503 liras, while the quarter gold fell by 2.46 percent to 12,063 liras.
On the foreign exchange side, the US dollar rose by 0.23 percent to 44.0620 liras and closed the week in the green. In contrast, the euro/TL fell by 1.75 percent to 50.9710 liras.
Investment funds and pension funds also took their share of this wave. While the weekly value loss in investment funds was 1.22 percent, the loss in pension funds reached 1.52 percent. However, among investment fund categories, "Money Market Funds" stood out as the only fund type to provide gains to its investors with an increase of 0.65 percent.
In the uncertain environment caused by the war, investors experienced a week where even assets seen as safe havens lost value. Only the dollar exchange rate in the foreign exchange market brought a slight smile to its investors.