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Lira Leaps More Than 2% Following Erdogan’s Big Referendum Win
As expected, the Turkish lira rose sharply against the dollar in early trading Sunday evening after President Recep Tayyip Erdogan won a historic referendum that clears the way for him to consolidate power in a reconstituted (literally) presidency.
"Currency jumps as much as 2.4% vs the dollar to touch 3.6188 in early trade, the highest level in almost three weeks, as Turkish voters voted to endow President Recep Tayyip Erdogan with sweeping executive powers," Bloomberg wrote this evening.
