CBRT Interest Rates
Borrowing Lending
Overnight 16.75 20.25
Late Liquidity 12.75 23.25
CBRT Exchange Rates
FX Buying FX Selling
Dollar 1.1994 1.2052
Euro 1.8878 1.8969
source: Central Bank of Turkey
Producer Price Index (2003=100)(TURKSTAT)(Monthly)
Consumer Price Index (2003=100) (TURKSTAT) (Monthly)
PPI(% Changes) CPI(% Changes)
01-2003 .. ..
02-2003 2.20 1.54
03-2003 1.73 1.96
04-2003 -0.82 0.99
05-2003 -0.98 0.96
06-2003 -0.24 0.08
07-2003 0.36 -0.19
08-2003 0.54 0.16
09-2003 -0.09 1.35
10-2003 1.06 0.93
11-2003 2.12 1.27
12-2003 0.47 0.42
01-2004 3.77 0.66
02-2004 0.21 0.52
03-2004 0.59 0.96
04-2004 2.27 0.50
05-2004 4.54 0.43
06-2004 0.80 -0.13
07-2004 -0.74 0.48
08-2004 0.97 0.76
09-2004 0.72 0.95
10-2004 2.47 2.25
11-2004 -0.00 1.31
12-2004 -1.08 0.32
01-2005 -0.41 0.55
02-2005 0.11 0.02
03-2005 1.26 0.26
04-2005 1.21 0.71
05-2005 0.20 0.92
06-2005 -0.48 0.10
07-2005 -0.74 -0.57
08-2005 1.04 0.85
09-2005 0.78 1.02
10-2005 0.68 1.79
11-2005 -0.95 1.40
12-2005 -0.04 0.42
01-2006 1.96 0.75
02-2006 0.26 0.22
03-2006 0.25 0.27
04-2006 1.94 1.34
05-2006 2.77 1.88
06-2006 4.02 0.34
07-2006 0.86 0.85
08-2006 -0.75 -0.44
09-2006 -0.23 1.29
10-2006 0.45 1.27
11-2006 -0.29 1.29
12-2006 -0.12 0.23
01-2007 -0.05 1.00
02-2007 0.95 0.43
03-2007 0.97 0.92
04-2007 0.80 1.21
05-2007 0.39 0.50
06-2007 -0.11 -0.24
07-2007 0.06 -0.73
08-2007 0.85 0.02
09-2007 1.02 1.03
10-2007 -0.13 1.81
11-2007 0.89 1.95
12-2007 0.15 0.22
01-2008 0.42 0.80
02-2008 2.56 1.29
03-2008 3.17 0.96
04-2008 4.50 1.68
05-2008 2.12 1.49
06-2008 0.32 -0.36
source: Central Bank of Turkey
Turkey’s position on the edge of the Eurozone is paying dividends for the country’s tourism industry. With the euro continuing to rise and fuel prices pushing up the cost of long-haul flights, Turkey stands to gain as a mid-haul destination for British, Russian and Commonwealth of Independent States (CIS) tourists.
Data from the Turkish Tourism Ministry showed that 3.31 million total tourists visited Turkey in June, a 19 percent increase on the previous year’s figure. One of the most striking aspects of the data was the growing appeal of Turkey among British visitors. (more…)
Lukoil, Russia’s second-largest oil producer, has acquired 100 percent of Turkish firm Akpet, which accounts for about 5 percent of Turkey’s oil retail market, the company said on Monday.
Lukoil said in a statement the deal gives it access to eight oil product terminals with a total capacity of 300,000 cubic meters, five liquefied natural gas (LNG) storage tanks with a total capacity of 7,650 cubic meters and three jet fuel terminals with a capacity of 7,000 cubic meters. (more…)
Financial analysts are eagerly waiting for the outcome of the closure case against the ruling Justice and Development Party (AKP), however their expectations on the ruling in the case differ, recent research reports show. With the filing of the closure case against the AKP, a closure decision was seen as a done deal by the financial markets. Internal concerns, combined with a decreased risk appetite in global markets, created a major sell-off, especially in the stock exchange.
However, the recent mood in the markets is positive again and funds have started to come back to the Turkish markets. Improved global conditions have aided a rise in the Turkish stock exchange and the lira currency. (more…)
Trade volume in Turkey’s free zones increased by to $13.3 billion in the first half of the year, an increase of 12 percent over the same period last year.
According to figures from the Undersecretariat for Foreign Trade, the İstanbul Leather Free Zone exported $3.3 billion of products in the first half compared to $3.1 billion in the same period last year, while the Aegean Free Zone exported $2.1 billion, down from $2.2 billion last year. Furthermore, İstanbul’s Atatürk Airport Free Zone exported $1.9 billion, up from $1.6 billion in the first half of last year. (more…)
Garanti Bank has begun to offer a new “non resident mortgage” to foreigners looking to purchase property in Turkey. With the new service the bank will enable foreigners to obtain lira or foreign exchange indexed loans with a maximum 240-month maturity. Foreigners will also be able to obtain loans of YTL 500,000 or the equivalent amount in foreign currency.
source: Turkish Daily News
The assets of Turkey’s 10 private pension insurance companies reached YTL 5.28 billion in mid-July, the latest data from the Pension Monitoring Center, or EGM, showed. The private pensions system, launched in March 2003, has some 1.63 million participants today.
The leading firm in terms of assets is Avivasa, with a portfolio of YTL 1.23 billion (654 million euros). Avivasa is a merger of United Kingdom-based insurance giant Aviva, and Turkey’s AK Emeklilik, a subsidiary of the Sabancı Group. The second largest firm in terms of assets is Anadolu Hayat Emeklilik with a portfolio of YTL 1.06 billion (567 million euros). (more…)