The Turkish pound and the Turkish shares are under pressure for another day, which, as the “fortune” caused by the arrest of Mayor Constantinople on Wednesday has not yet said and led to the slide of the Turkish currency and the free fall of the stock market.

The Turkish pound is on the orbit to record its strongest weekly decline over nearly two years, as liquidity and interest rates by Turkey’s central bank on Wednesday and Thursday, respectively, have failed to reduce the recession of the coin in the country.

On Friday morning, 11:30 Time Turkey, the pound dropped by 0.5% to 38 per dollarby expanding the Loss of the last five days at 3.8%which has been the worst performance of the Turkish currency since June 2023.

On Wednesday, when the news of the arrest of Imamoglou caused strong pressure on the pound that reached up to 12.7% lower and record a new historical low at £ 42 per dollar, Central Bank proceeded to Providing liquidity of up to $ 9 billion in order to limit coin volatility and pound outflow.

On Thursday, at its extraordinary meeting, the Turkish Central Bank has increased a shock to the one -day interbank deposit rate, by 200 base unitsincreasing the average funding costs in an attempt to prevent the pound’s impairment from motivating inflationary pressures.

The Central Bank also announced that it will suspend one week’s repos borrowing for an indefinable period of time.

Meanwhile, strong losses still receive the Constantinople Stock Exchange today, with the Bist 100 to mark over 6% drop At 9,219.57 points, after the slight retreat yesterday that followed Wednesday’s sell-off, the day that Imoglou’s arrest was announced.

It is recalled that on Wednesday, the Bist 100 closed with a loss of 8.7%, while mass sales led twice to temporarily suspending transactions during the meeting.