Following the announcement by the Turkish CHP and AKP that their coalition talks have ended unsuccessfully, the exchange rate has sky rocketed again.
After the talks failed between the two parties, foreign currency exchange rates rose. Dollar exchange rate increased from 2.79TL to 2.82TL whilst the Euro rose to its highest at 3.18. The pound sterling also increased and was recorded at 4.30TL.
Analysts noted that the reaction in the fiscal markets was brutal following the announcement of the news and any statements or political moves after this will affect the state of the exchange rate.
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