{"id":38114,"date":"2025-03-24T11:35:17","date_gmt":"2025-03-24T11:35:17","guid":{"rendered":"https:\/\/quickassetsmarket.com\/index.php\/2025\/03\/24\/usd-try-what-next-for-lira-as-turkey-moves-towards-autocracy\/"},"modified":"2025-03-24T11:35:17","modified_gmt":"2025-03-24T11:35:17","slug":"usd-try-what-next-for-lira-as-turkey-moves-towards-autocracy","status":"publish","type":"post","link":"https:\/\/quickassetsmarket.com\/index.php\/2025\/03\/24\/usd-try-what-next-for-lira-as-turkey-moves-towards-autocracy\/","title":{"rendered":"USD\/TRY: What next for lira as Turkey moves towards autocracy?"},"content":{"rendered":"
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The Turkish lira remained on edge on Monday as the political crisis in the country continued after more politicians, journalists, and activists were arrested. The USD\/TRY exchange rate was trading at 37.7 on Monday, down from last week\u2019s high of 39.80. <\/p>\n

Lira plunges against euro and pound as BIST 100 index falls<\/h2>\n

Similarly, the EUR\/GBP pair dropped to 41.20 from the year-to-date high of 43.40, while the GBP\/TRY has dropped from last week\u2019s high of 50.90 to 49.10. These forex pairs are all nearing their all-time highs after decades of soaring as the BIST 100 index has plunged<\/a> by over 14% from its highest point this year, meaning that it has moved into a technical correction. <\/p>\n

The Turkish lira has plunged after President Recep Erdogan arrested Ekrem Imamoglu, his main rival and the mayor of Istanbul. This action, coupled with other arrests, have raised concerns that Turkey was moving towards outright autocracy. <\/p>\n

Ekrem has now been charged with corruption and removed from being the mayor of the biggest city in the country. In an X post, he warned that the country was suffering from a great betrayal and that he was a victim of extrajudicial execution. <\/p>\n

Analysts believe that the ongoing arrests stem from last year\u2019s municipal elections in which the opposition won convincingly. As such, Erdogan believes that failure to crack down on the party risks his party in the next election. <\/p>\n

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Recep Tayyip Erdo\u011fan<\/span><\/div>\n
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@RTErdogan<\/span><\/a><\/p>\n
\u00b7<\/span>Follow<\/a><\/div>\n<\/div>\n<\/div>\n

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\u00d6nce Suriye\u2019de eski rejim art\u0131klar\u0131n\u0131n \u00e7\u0131kard\u0131\u011f\u0131 olaylar\u0131 bahaneyle mezhep\u00e7ilik fitnesini alevlendirmek istediler.<\/p>\n

Alevi canlar\u0131m\u0131z\u0131 k\u0131\u015fk\u0131rtarak karde\u015fli\u011fimize pusu kurmaya kalkt\u0131lar.<\/p>\n

Muvaffak olamay\u0131nca bir yolsuzluk operasyonu \u00fczerinden milletimizi provoke etmeye kalk\u0131\u015ft\u0131lar.<\/span><\/p>\n

10:50 PM \u00b7 Mar 22, 2025<\/a><\/a><\/div>\n
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33.0K<\/span><\/a><\/p>\n

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