Correlation between USDTRY and BIST index

As we can see, there is a correlation between USDTRY and BIST index. The increase in the stock market index has been influenced by the increase in the price of the USD in Turkey.
But be wary of this rapid increase. A similar experience happened in Iran in the last two years. After the rapid rise of the dollar price in 2019, the stock market index grew rapidly and reached about two million one hundred thousand units. During this increase, many people joined the stock market, and a lot of money flowed into the stock market. But a large part of this index increase was a bubble. In mid-2020, the Iranian stock market began to fall sharply and fell to about one million and one hundred thousand units. In the meantime, many people lost their money. And after that, the Iranian stock market plunged into a period of recession that continues to this day.