The Turkish Lira plummeted to a record low versus the US dollar Tuesday as investors pull cash out of the country ahead of a presidential election next month.

President Recep Tayyip Erdogan – a self-proclaimed “enemy” of interest rates – said last week in am interview that if he wins the election, he will take more responsibility for the economy.

The lira has shed 28.5% versus the dollar this year.

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CHP EU Representation