Turkish Lira Slumps To Record Low Against U.S. Dollar

08:48, 24th April 2015

(RTTNews) - The Turkish Lira plunged against the U.S. dollar in European deals on Friday, amid political uncertainty ahead of upcoming elections in June.

Investors are concerned over whether the ruling Justice and Development Party will attain enough seats to secure the constitutional majority. The ruling AKP party President Recep Tayyip Erdogan has been demanding a landslide win in order to secure his super-presidency model through a constitutional change after the elections.

The lira fell to a record low of 2.7430 against the greenback, a decrease of 1.7 percent from Thursday's closing value of 2.6981.