Turkey went to the elections to determine whether the 13th President of the Republic would be Recep Tayyip Erdoğan or Kemal Kılıçdaroğlu, and what the distribution of deputies in the Grand National Assembly would be. Although the results have not been clarified yet, the possibility of the Presidential election moving to the second round has brought the dollar quotations to unprecedented levels.
The dollar rate announced by the banks has exceeded 23.90 TL. Since the free market dollar rate quotes could not be entered due to the holiday, the rate seen on the screens is still around 19.66 TL.
The latest data entered for the Grand Bazaar dollar rate today is at 18:20 and is around 22.50 TL.
The latest results have increased the suspicion of the 2nd round in the elections. Worst case scenario for the market
Well what does it mean. In fact, the scenario that would reduce the risk the most for the markets was the end of the presidential elections in the first round. However, as of 22:56, 89.2 percent of the ballot boxes have been opened, according to the data announced by Anadolu Agency. Although there are claims that many games could not be entered into the system due to objections made in nearly ten thousand ballot boxes, especially in metropolitan cities, according to AA data, Recep Tayyip Erdoğan seems to have received 49.94 percent of the votes announced. In the first stage, the second round is in sight after the votes opened with the result of a ballot box, in which Erdoğan was ahead with 60 percent, fell below 50 percent. According to ANKA news agency’s data, where 88 percent of the ballot boxes were opened, Recep Tayyip Erdogan and Kemal Kılıçdaroğlu seem to have 48.90 percent of the vote. These results show that the election is definitely in the second round. Of course, if there are no big changes in the rates in the following chests.
Second round rise in dollar
These results increased the suspicions that the elections were close to the second round. This was the most negative scenario for the markets. We see that the first reflections of this are reflected in the bank dollar rate quotes.
In the coming minutes, we will continue to reflect both the updates on the election results and the developments in the dollar exchange rate.
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