Turkey in Political Turmoil

The results from the most recent elections have been cancelled.

Economic News
2019年5月07日

The Turkish lira is once again close to crashing, as the dollar increased to as much as 6.1976 against the lira earlier today. The spike was caused by a controversial decision of the Turkish authorities to cancel the results from the recent elections under the pressure of President Erdogan.

The elections in question were held in March and were for local governments in the municipalities. Erdogan’s party did not perform well in the elections, losing the majority in important cities like Istanbul and the capital Ankara. The President announced that he disagreed with the vote of the people and took measures to act against it, which now culminated in pressuring the authorities to proclaim the elections were illegitimate.

In 2019 alone the USD has appreciated by more than 16% against the Turkish lira, which is among the worst-performing currencies in the world right now. The Argentinian peso remains worse off, but Argentine actually had to be bailed out by the IMF.

Anna Sneider
May 7: Digest Review

Economic News

May 7: Digest Review

Today isn't very volatile. Most news came from Australia.

Stanislav Litinskyi
2019年5月07日

Economic News

Trade Agreement in Doubt

Trump is once again attacking China with tariff threats.

Anna Sneider
2019年5月06日

Economic News

Oil on the Downside

Oil prices are decreasing again due to high supply.

Anna Sneider
2019年5月03日