The first quarter of the year was challenging for Turkish Lira assets. The winner of this period was gold. Turkish Lira assets struggled through the first quarter. The positive sentiment in TL assets dating back to June 2023 turned negative with developments in the last two weeks of March. Fluctuations in the TL increased following the detention decisions against the Istanbul Metropolitan Municipality on March 19. The Central Bank, Banking Regulation and Supervision Agency (BDDK), and Capital Markets Board (SPK) intervened in the process with measures they took. The stock market was supported by asset fund’s equity purchases, while the Central Bank tried to balance the exchange rate with foreign exchange sales. In three months, gram of gold rose by 28.59%. There was a 21% increase in the two-year bond interest rate. Euro exchange rate increased by 11.92%, while the dollar rose by 7.28%. During this period, Istanbul’s stock exchange caused investors to lose by 1.74%. Rising interest rates due to bond market sales also led to yield losses in money market funds. Outflows from money market funds amounted to 456.5 billion liras. The share of TL deposits fell by more than 1 point, while there was an increase of 5.9 billion dollars in foreign currency deposits.