The first quarter of the year was tough for Turkish Lira assets. However, the winner of this period was gold. Turkish Lira assets struggled during the first quarter as the positive trend since June 2023 for TL assets turned negative following developments in the last two weeks of March. The fluctuation in TL increased with the detention orders against the Istanbul Metropolitan Municipality on March 19. The Central Bank, Banking Regulation and Supervision Agency (BRSA), and Capital Markets Board (CMB) intervened in the process with the measures they took. While the stock exchange was supported by the asset fund’s share purchases, the Central Bank attempted to balance the exchange rate with currency sales. In three months, the gram of gold rose by 28.59%. The increase in the two-year bond yield was 21%. Euro exchange rate rose by 11.92%, while the dollar increased by 7.28%. During this period, the Istanbul Stock Exchange caused investors to lose 1.74%. The rising interest rates with bond market sales also led to a loss in money market funds. The outflow from money market funds was 456.5 billion lira, and the share of TL deposits decreased by more than 1 point. Döviz deposits increased by 5.9 billion dollars.