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Turkish Lira Sheds Value After Mayor's Arrest
(MENAFN- Kuwait News Agency (KUNA))
ISTANBUL, March 19 (KUNA) -- The Turkish Lira made a record fall on Wednesday in the aftermath of arresting Istanbul's mayor, Ekrem Imamoglu.
The Lira dropped to 41 vis a vis the US dollar in today's early trades before rising to 47.38. Upon yesterday's market closing, it reached 67.36.
Meanwhile, the Istanbul bourse declared temporary trades' cessation after the benchmark dropped by 87.6 percent. Sovereign bonds' proceeds rose by 175 points reaching 94.29 points.
The mayor, the president's Political foe, was detained on corruption charges and funding a terrorist group. (end)
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The Lira dropped to 41 vis a vis the US dollar in today's early trades before rising to 47.38. Upon yesterday's market closing, it reached 67.36.
Meanwhile, the Istanbul bourse declared temporary trades' cessation after the benchmark dropped by 87.6 percent. Sovereign bonds' proceeds rose by 175 points reaching 94.29 points.
The mayor, the president's Political foe, was detained on corruption charges and funding a terrorist group. (end)
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