The only currency that did not lose value among the developing countries after Trump's victory was the Turkish Lira (TL).

06.11.2024 17:50

Global markets closely monitored the presidential elections taking place in the United States today. The candidate from the Republican Party, Donald Trump, will take the presidential seat in the White House, while there was volatility in gold and the dollar. The Turkish lira became the only currency among emerging markets that did not lose value against the dollar.

The presidential elections in the USA were closely followed around the world. In the contest between Donald Trump and Kamala Harris, victory went to Trump. Following Trump's victory announcement, global markets experienced fluctuations. While the dollar maintained a horizontal trend, gold saw a sharp decline.

THE ONLY CURRENCY THAT DID NOT LOSE VALUE IS THE TURKISH LIRA

The Dollar/TL exchange rate followed a horizontal trend after the elections in the USA. The dollar started the third trading day of the week at 34.2764 lira, while the euro began at 36.7888 lira. After Trump's victory, the Dollar/TL exchange rate is currently hovering around 34.25. With this performance, the Dollar/TL became the only currency among emerging markets that did not lose value against the dollar.

SHARP FLUCTUATIONS IN GOLD

Following Trump's victory in the US elections, gold prices sharply declined. The price of gold per ounce fell from 2,790 dollars to 2,663 dollars during the election week, losing more than 130 dollars in value.

Starting the day at 3,024 TL, the price of gram gold fell to 2,937.40 TL for buying and 2,937.35 TL for selling. The quarter gold is being traded at 4,955 TL for buying and 4,992 TL for selling.

BIST 100 INDEX INCREASED

The BIST 100 index of Borsa Istanbul reacted positively to Trump's approach to victory, rising by 3% during the day. Record highs were seen in American stock futures, and US Treasury yields increased.

SHARP RISE IN CRYPTOCURRENCIES

While oil prices declined with the rise of the dollar, bitcoin surpassed 75,000 dollars, setting a historical record with Trump's election. Trump had signaled that he would take a softer approach regarding cryptocurrency regulations.

The only currency that did not lose value among the developing countries after Trump's victory was the Turkish Lira (TL).

THE ONLY CURRENCY THAT DID NOT LOSE VALUE IS THE TURKISH LIRA

SHARP FLUCTUATIONS IN GOLD

BIST 100 INDEX INCREASED

SHARP RISE IN CRYPTOCURRENCIES

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