Turkey's lira sinks to near record low as Erdogan is reelected
CNBC 2023-05-29 03:31:54 • 2 mins
Key Points
- The Turkish lira sank as incumbent Recep Tayyip Erdogan secured his victory in the 2023 presidential election, extending his rule into its third decade in power.
- The currency was trading at 19.97 against the greenback as of Monday 4 a.m. London time after slipping to 20 to the dollar earlier.
A man holding a Turkish flag.
Uriel Sinai | Getty Images
The Turkish lira sank Monday as incumbent Recep Tayyip Erdogan secured his victory in the 2023 presidential election, extending his rule into a third decade in power.
The currency was trading at 19.97 against the greenback as of Monday 4 a.m. London time after slipping to 20 to the dollar earlier in the session.
