Renewed tensions between the US and Iran, together with rising security risks in the Red Sea, weighed on global risk appetite and further weakened expectations of a renewed agreement between the two parties.

The central government budget posted a surplus of 114.2 billion TRY in June.

In May, the current account posted a deficit of 1.5 billion USD, exceeding market expectations.

Oil prices fell back to their pre-geopolitical tension levels in the final days of June.

Monthly CPI inflation in June came in at 0.99%, in line with market expectations and at its lowest level this year.

Turkish economy grew by 2.5% yoy in the first quarter.