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    Global market crunch felt on Turkish stock exchange

    Hürriyet Haber
    27.07.2007 - 15:07 | Son Güncelleme:

    With global markets continuing their declines amidst fears of the credit crunch on the US financial market, the Istanbul Stock Exchange (IMKB) is also feeling the effects.

    Yesterday the IMKB lost nearly 3% in its first half of trading, while today too the market opened to a steady decline. Meanwhile, the dollar and interest rates began heading upwards, with the dollar trading in the 1.3120-1.3140 range yesterday. This brought the level of the dollar back to the pre-election levels it had been at, completely erasing the drop in the dollar against the Turkish lira which had occured in the positive rise of the Turkish markets following Sunday's general elections across the country.
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