XU 100 Bist index has been on the rise since the beginning of January 2019:
Since the massive drop in August 2018, when the Lira fell to all-time lows,
this index has first peaked in October and in the last month has shot past that peak.
Looking at the volume peaks above the purple line in the MSCI Turkey ETF index below,
you can see that all but one (28th Jan.) have been buying volume (green) and, like the
XU 100, this index has been on a steady rise since the beginning of 2019:
The Lira has risen more than 20,000 pips against the Euro since the all-time bottom
of August 2018, but if it were allowed to continue in its appreciation it would have at
least another 20,000 pips to go.
Turkey’s central bank has held rates in January, which has allowed the Lira to continue
undisturbed; the next interest rate decision will be just before the local elections (31st March)
so it is expected to be a non-event: