Is the Turkish lira collapsing? USD/TRY at record low after Erdoğan’s re-election

Turkey. The country straddling both Europe and Asia last week reelected Recep Tayyip Erdoğan for another five years, the controversial president winning 52% of the votes in the nation’s first ever presidential run-off.  As leaders from around the world moved to congratulate the president, markets were less gracious. The lira (USD/TRY) plunged to a record […]