Market Reaction to Turkiye’s Removal from FATF Gray List

Turkiye has been removed from the Financial Action Task Force (FATF) gray list aimed at preventing money laundering. Following Finance Minister Mehmet Simsek’s message of success, an official announcement was made. How did the markets react to Turkiye’s removal from the gray list?

Turkiye has successfully exited the FATF’s gray list, indicating it will no longer be subject to enhanced monitoring.

At the start of the trading day on Borsa Istanbul, the BIST 100 index opened with a 0.54% increase at 10,738.78 points. Following the announcement, the index is currently trading around 10,728 points.

The USD/TRY started the day with an uptick, opening at ₺32.96. Currently, it has slightly retreated to ₺32.86.

Meanwhile, the EUR/TRY has turned downward, trading around 35.19 levels.

This decision marks a significant development for Turkiye’s financial markets, reflecting positive sentiment and potential implications for economic stability. Stay tuned for further updates on market trends and reactions.

Source: / Prepared by Irem Yildiz

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