Istanbul Forexpo Fair Ends

Istanbul Forexpo, Turkey's second major foreign exchange and finance fair, ended Sunday.



The main focus of the event, hosted by Unal Fair Organization, was to introduce foreign exchange market companies and other financial intermediary establishments and potential clients.



The Istanbul based Isik Securities' Research Unit Manager Veli Kocaturk told Anadolu Agency that in case of a single-party government following the Nov. 1 general election, the foreign exchange rate USD/Turkish Lira could fall as low as 2,75-2,80, down from 2,99 Sunday afternoon.



"This can be turned into an opportunity for us ahead of interest rate increases," Ozturk said referring to a possible interest rate hike by the U.S. Federal Reserve.



Speaking about the Borsa Istanbul index, Ozturk said that the possibility for it to move beyond 80,000 is very high (after the election). Borsa Istanbul's BIST-100 index on Friday closed at 74,396.65.



Turkey is heading for an early general election after no party succeeded in creating a ruling coalition after the June 7 poll.



A total of 20 forex companies participated Istanbul Forexpo, where they opened stands and organized seminars on developing financial literacy along with competitions and information activities.



Anadolu Agency was the "Global Communication Partner" for the two-day event that was held in Istanbul's Fulya Building Information Centre. - Ankara