The Turkish lira (TL) has been among the most depreciated currencies recently, with the USD/TRY exchange rate trading around 39.20 to 39.28 in early June 2025. The euro and British pound were also active, with EUR/TRY near 44.82 to 44.86 and GBP/TRY at approximately 53.20. The Istanbul free market saw the dollar buying price at 39.2870 lira and selling at 39.2890 lira, while the euro was bought at 44.8600 lira and sold at 44.8620 lira. Turkish bank shares rallied following the central bank's decision to provide additional funding through a cheaper one-week repo rate, which markets interpreted as a potential precursor to interest rate cuts. Fitch Ratings projected a gradual recovery in Turkey's banking sector net interest margins by the end of the year, supported by expected monetary easing from the central bank. The BIST 100 index started the week with a 1.82% gain, closing at 9,659, with the banking index surging over 5%. Key resistance levels for the BIST 100 are noted between 9,700 and 9,771. Market participants are also closely watching upcoming U.S. inflation data for further cues.