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Turkish Lira Surges as Erdogan Win Rekindles Market Rally


April, 17 2017
watermark Economic news

The Turkish lira surged in value as Recep Tayyip Erdogan came out victorious in the Turkish Presidential elections, sparking renewed interest in the world’s most dismal emerging-market currency for 2017. The lira increased by over 2.5% to clock in at 3.6188 per dollar, the currency’s largest intraday gains since January 2017. The Turkish market is now expected to rally as an instantaneous reaction to this recent win from Erdogan and then step back later on to assess what this means for the country’s economic policies as well as relationships with allied nations such as US and the eurozone.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.