Re-elected president commits to economic unorthodoxy and culture wars suggesting further trouble ahead
The Turkish lira has hit a record low after the election win of the president, Recep Tayyip Erdoğan, in a renewed sign of the economic troubles his country is expected to face in the third decade of his rule.
The lira fell against the dollar as Erdoğan pronounced victory. On Monday morning, the US investment bank Morgan Stanley predicted the Turkish currency would drop further this year, reaching 26 or even 28 to the dollar more quickly than previously anticipated.
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