Turkish lira rallies at two-week high against dollar

The U.S. dollar/Turkish Lira exchange rate saw its lowest level in the last two weeks, while Turkey's Borsa Istanbul closed the day at 92,227.37 points with a 0.18 percent decrease on Wednesday.

Borsa Istanbul's BIST 100 index ended the day with a 161.74-point decrease from Tuesday's close of 92,389.11 points, while it opened the day at 92,836.31 points, up 0.48 percent. Trade volume was around 7 billion Turkish liras ($1.1 billion) on Wednesday.

The USD/TRY exchange rate dropped by 1.9 percent to 6.3530 as of 5 p.m. local time (1400GMT) Wednesday, compared with 6.4740 at Tuesday's close. The rate was 6.7840 at the end of August.

The euro/Lira exchange rate also fell by 1.6 percent to 7.3810 by market close, versus 7.4980 at the previous close, while the British pound/Lira exchange rate reached 8.2820 Turkish liras, compared with 8.4240 at Tuesday's close.

In Borsa Istanbul's Precious Metals and Diamond Markets, one ounce of gold traded for $1,194.00 as of 5.30 p.m. local time (1430GMT) Wednesday, compared with $1,193.70 at the previous close.

As of 6 p.m. local time (1500GMT), the price of Brent oil rose rapidly to $79.94 per barrel at the day's closing, compared with $78.59 at the end of Tuesday.