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The Turkish lira is weakening after Erdogan’s doubts about the election results

Erdoğan complains of electoral bias after candidate for Istanbul mayor loses small margin to opposition candidate Erdogan’s party seeks to count votes again

The Turkish Lira

(5.6532 -0.61%)

 Is now plunging by 1% against the dollar against the background of Erdogan’s statements about the possibility of bias in the election results. On Sunday, Erdogan’s party, the AK Party, asked for a recount of the election results after its candidate for mayor of Istanbul lost a small margin to an opposition candidate.

Already in the initial election results for the 39 provinces in Istanbul, Erdoğan’s party petitioned the election council to count the votes in the largest city in Turkey.

The opposition: The election council is undermining the voting process

The Republican People’s Party, the main opposition against Erdogan’s party, attacked the election council after it agreed to Erdogan’s party’s request to repeat the election results. The opposition leader said this morning that the High Electoral Council’s response to Erdogan’s party’s request for a repeat count of the vote could harm the security of the polls.

The opposition leader added that the election council must be neutral, and that a repeat count of votes should be justified.

Last year, the lira shed nearly 30 percent of its value against the dollar, amid concerns over the independence of Turkey’s central bank and the weakening of Istanbul-Washington relations .


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