Turkish lira sets anti-record ahead of run-off

Turkish lira sets anti-record ahead of run-off

© Photo: Maria Novoselova / Vestnik Kavkaza

On the eve of the presidential run-off scheduled for tomorrow, the country’s currency is trading at an all-time low - almost TL 20 to a dollar.

The Turkish lira fell to an all-time low, Trading Economics reports. The anti-record is set amid the upcoming presidential run-off that will be held tomorrow, May 28.

The national currency is trading at 19.972 lira to $1. Yesterday, the dollar raises above TL 20.

According to experts, the Turkish currency may break a new historical record by the end of the year, falling to the level of TL 29 to $1.

The market reflects concerns about the uncertainty that may come with a change of government, and the way the authorities will manage the exchange rate in the future.