Turkish financial markets face volatility and index provider warnings

Turkish financial markets are experiencing volatility across both equity and foreign exchange sectors. On September 25, 2026, the BIST 100 index fell by 2.74% to 12,888.33 points, driven largely by declines in banking and holding company shares.

In the foreign exchange market, major currencies showed upward movement against the Turkish Lira. The US Dollar was recorded at 48.95 TL, the Euro at 55.66 TL, and the British Pound approached 64.68 TL.

Simultaneously, concerns regarding the international standing of the Turkish stock market have emerged. Index providers MSCI and FTSE Russell have signaled potential re-evaluations of Turkey. MSCI indicated that a reassessment could occur if partnership structures do not become more transparent and if there is no concrete progress regarding coordinated transactions and actual free float. FTSE Russell has also noted discrepancies in reported free float data, leading to delays in certain index changes. Experts warn that if index providers reduce Turkey's weight, automated fund selling could trigger significant capital outflows, impacting both the stock market and currency stability.