09.06.2015 - Turkish currency plunges on shock election result
President Recep Tayyip Erdogan's ruling AK Party loses parliamentary majority sending the Turkish lira and stock market into a tailspin. The Turkish currency has fallen sharply against the pound in foreign exchange markets and investors have taken fright sending shares lower after a shock result in the country’s election. The Turkish lira fell to an all-time low as it slumped 5.1pc to 4.2738 lira to the pound, and the Turkish index of 100 leading shares dived 6.3pc lower early trading. At the start of the year £1 was worth 3.6 Turkish lira, and after the surprise election result holidaymakers money now goes 16pc further with £1 worth about 4.3 Turkish lira...............................................Full Article: Source
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