Turkey’s markets welcome AKP poll win

Turkish MarketTurkish markets and assets have begun the day positively, betting that the ruling Justice and Development Party’s (AKP) victory in the local elections will secure political stability.

Turkey’s main stock exchange opened the day with a 1.95 percent gain, while the Turkish Lira hit a two-month high against the dollar at 2.163. The March 30 election results are perceived as being a vote of confidence from the electorate in the party and Prime Minister Recep Tayyip Erdoğan.

Turkey’s currency strengthened to almost 1.5 percent at 2.163 against the dollar, which is at its strongest level since Jan. 29, 2013.

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