In the morning hours, the Turkish currency reached the lowest level in two months against the dollar, reaching 19.63 lira. This figure fell by 0.2 percent after the votes were counted in the first round of the presidential elections in Turkey, and as a result, President Recep Tayyip Erdogan received only 49.35 percent of the vote. informs Bloomberg agency.
To win in the first round, one of the candidates had to get more than 50% of the votes. His main rival, Kemal Kılıçdaroğlu, received 45% of the vote. The second round will be held on 28 May.
“Traders are poised for more volatility in the Turkish lira as early vote counting in the presidential election doesn’t seem to have won any candidates. Now, the second round will take place in two weeks and will increase the pressure on the tightly controlled currency. The lira weakened a bit, falling 0.2% at 8:15 am in Istanbul to 19.63 near a two-month low.
May 15 state channel TRT News knowledgeableTurkey’s incumbent President Recep Tayyip Erdogan received 49.35% of the vote in the presidential election after processing 100% of the voters’ ballots. His main rival, Kemal Kılıçdaroğlu, received 45% of the votes. Sinan Ogan, the third candidate of the ATA Alliance, received 5.22 percent of the votes.