Istanbul Stock Exchange announces suspension of operations

The Istanbul Stock Exchange announced it would suspend operations amid a collapse of the Turkish lira and stocks, Report informs, citing RIA Novosti.

“The system of suspension of trading after the fall of the markets by a certain amount, associated with the main index of the Istanbul Stock Exchange, was triggered. Transactions were temporarily suspended on the market of all shares of our stock exchange,” the report of the stock exchange said.

On Thursday, the Turkish Central Bank decided to reduce the discount rate to 14% from 15%. After that, earlier on Friday, the lira fell 9% to another anti-record of 17.14 lira per dollar from the previous close of 15.66 lira per dollar. The Turkish Central Bank has announced new direct foreign exchange interventions in the face of the depreciation of the Turkish lira.