Turkish Lira Exchange Rate Reaches Record Low

The exchange rate of the Turkish lira has decreased ahead of the second round of presidential elections, reaching a record low against the US dollar, reports Trading Economics.

The national currency is trading at 19.972 lira per 1 dollar. Meanwhile, earlier during trading, the dollar's exchange rate had risen above 20 lira per 1 dollar.

At the same time, the BIST 100 stock index has increased by 3.5% following trading results on Friday, reaching a peak over the last seven working days.

The second round of presidential elections will be held on May 28. In the first round, Erdoğan won with 49.52% of the votes, while Kemal Kılıçdaroğlu, leader of the Republican People's Party, secured 44.88%.