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Turkish Lira Rallies After Erdogan’s Victory in Presidential Election

June 25, 2018 at 12:31 by Vladimir Vyun

Turkish 200-lira billsThe Turkish lira rallied today after victory of Recep Tayyip Erdogan in the presidential election.

Erdogan’s victory in the Turkish presidential election reduced political uncertainty, making the lira a bit more appealing to investors. Market analysts argued, though, that there is a high chance that the rally will be short-lived. They pointed out that Erdogan’s presidency was the major reason for the 21% depreciation of the currency this year in the first place.

USD/TRY fell 0.32% to 4.6619 as of 12:24 GMT today.

If you have any questions, comments, or opinions regarding the Turkish Lira, feel free to post them using the commentary form below.

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