Turkish lira falls as coalition talks fail

The Turkish lira fell yet again on Thursday after coalition talks between Turkey’s majority AK Party and opposition party CHP failed.

After the meeting between Turkey’s acting prime minister and leader of the AK Party Ahmet Davutoglu and CHP leader Kemal Kilicdaroglu ended, the lira traded at 2.8 per dollar, falling 0.75 percent from earlier in the day and 4.4 per GBP.

Davutoglu, who spoke to the press after the meeting, said that an offer had been made to form a “reform government with the CHP for a limited time in order to hold an early election. However, the CHP stated its desire to form a long-term coalition government.”

Davutoglu said that the CHP’s position is not tenable due to the “different demands of its voters.”

In response to the news that there would be no formation of a coalition government, Turkey’s main share index, the BIST 100, at first fell by more than 3 percent but ended the day down by 1.39 percent at 77.086 points.

TRT World

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