Turkish lira fell sharply after Erdogan's comments

The Turkish lira fell to 5.7120 lira against the dollar after Turkish President Recep Tayyip Erdogan said it was impossible for the opposition candidate to announce victory in Istanbul by a margin of 13,000 to 14,000 votes.

The Turkish lira fell 1.58% from Friday's close of 5.6220 lira following Erdogan's statement that "his party is seeking a complete recount of votes in Istanbul."

The currency is under pressure from the preliminary results of the municipal elections, which showed the AKP losing control by both Ankara and Istanbul to the main opposition Republican People's Party.



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