(MENAFN- Al Wakeel News) Al-Wakeel News – The Turkish lira fell to its lowest level in two months, as financial markets began trading in the aftermath of the presidential and parliamentary elections that took place on Sunday, amid expectations that the presidential race is heading to a run-off.
The lira fell to 19.70 against the dollar, before it compensated for some of its losses and reached 19.65, heading towards recording its worst session since early November.
This was not far from the level of 19.80, which the currency recorded after the bloody earthquake that hit the country in early March.
The lira has fallen five percent since the beginning of the year, and it has lost about 95 percent of its value over the past decade and a half.
The latest developments in the Turkish elections
The latest electoral results of the Turkish presidential elections suggested a move to a second round of decisiveness between Turkish President Recep Tayyip Erdogan and his rival Kilicdaroglu.
After 99.96 percent of the vote was counted, Erdogan won 49.25 percent, while his opponent won 45.06 percent, according to the Turkish news agency “Anatolia”.
Sky News
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