Lira falls, stocks rise in wake of Erdogan’s re-election

Lira falls, stocks rise in wake of Erdogan’s re-election

ALBAWABA – The Turkish Lira dropped to TRY20.10 against the United States (US) dollar Monday, according to Google Finance, in the aftermath of the re-election of current Turkey President Recep Tayyip Erdogan on Sunday.

Bloomberg also reported a 0.5 percent decline in the value of the lira, at 1:55 p.m., Istanbul Time, to TRY20.785. But the New York-based news outlet also reported stocks rising on the promise of “international credibility,” as reported, hinting that Erdogan may be turning away from his ‘unorthodox’ policies.