Turkish lira gains after AK Party election victory
by
Jun 14, 2011 - 12:00 am GMT+3
by Jun 14, 2011 12:00 am
The Turkish lira strengthened modestly on Monday after Prime Minister Tayyip Erdogan's ruling AK Party won a clear victory in Sunday's parliamentary election.
By 04:16 GMT the currency was quoted at 1.5702/1.5740 against the dollar, compared with Friday's close of 1.5770.
The AK Party won 50 percent of the vote to give Erdogan a third consecutive term. But the AK Party's parliamentary majority slipped, as it won 326 seats, down from 331 in the previous assembly.
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