The Turkish lira fell to a record low against the US dollar. In this respect to witness International currency market Forex trading data.
As of 13:50 (Moscow time), the dollar is traded at 19.85 lira. The depreciation of the Turkish currency is happening against the backdrop of the upcoming second round of presidential elections in the Republic of Turkey.
As Reuters noted, global financial markets are poised for the victory of Recep Tayyip Erdogan, who will maintain an “unorthodox” monetary policy after his reelection.
Erdogan he scored In the first round of the presidential elections, he received 49.52 percent of the votes and 44.88 percent of his main rival, Kemal Kılıçdaroğlu, the candidate of the seven opposition parties. A second round of elections will be held in Turkey on 28 May.
In mid-May, Bloomberg WroteIt was reported that the exchange rate of the Turkish currency against the US dollar approached the lowest level in two months and reached the level of 19.63 liras. After the first round of vote counting in the presidential elections in Turkey, this figure fell by 0.2 percent.