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March markets in Türkiye: Volatility and key developments ahead of April

Various currencies, including Turkish Lira (TRY), are seen in the market, with a chart in the background symbolizing market activity Various currencies, including Turkish Lira (TRY), are seen in the market, with a chart in the background symbolizing market activity. (Adobe Stock Photo)
By Newsroom
Mar 29, 2025 12:53 PM

March was one of the most volatile months in recent times. With the Eid al-Fitr holiday on March 31, trading will be closed, making March 28 the last trading day of the month.

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March performance

  • Gold: Gram gold gained 12.22%, closing at ₺3,767, up from ₺3,357 in February, becoming the best-performing asset.
  • Stock market: BIST 100 index rose by 0.01%, closing at 9,659 points. It reached a high of 10,902 and a low of 8,872 points.
  • Currency markets:
    • US dollar: Closed at ₺37.98 (+4.02% for the month).
    • Euro: Closed at ₺41.13, up 8.73%, benefiting from the EUR/USD movements.

What happened in March?

  • US tariff developments: President Trump imposed a 25% tariff on car imports.
  • Domestic political news: The investigation into Istanbul Metropolitan Municipality (IBB) over alleged corruption and the arrest of Ekrem Imamoglu impacted market sentiment.

What to watch in April

Markets will focus on the following 4 key events in April:

  • April 2: The U.S. is to announce “reciprocal” tariffs.
  • April 3: March inflation data release.
  • April 17: CBRT interest rate decision.
  • April 25: S&P Global credit rating evaluation.
Last Updated:  Mar 29, 2025 2:03 PM