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Turkish Lira Drops To Record Low Against U.S. Dollar As Erdogan Wins Runoff Election
(RTTNews) - The Turkish lira dipped against the U.S. dollar on Monday, as Tayyip Erdogan won the country's presidential run-off election on Sunday.
Erdogan attained 52 percent of the vote in the second round of voting, whereas his opponent Kemal Kilicdaroglu got 47.86 percent.
The win gives him another five-year term, extending power until 2028.
The Turkish lira touched a record low of 20.07 against the greenback from yesterday's close of 19.87.
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The Turkish Lira fell against the U.S. dollar in the New York session on Thursday, despite a 500 basis-point hike by the Turkish central bank.
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Indian shares opened on a sluggish note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect, impacting trade worth billions of dollars and risking Washington-New Delhi ties.
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