Turkish Lira Slide Deepens as PM Says Coalition Talks Failed
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Turkey’s lira weakened to a record for a third day after acting Prime Minister Ahmet Davutoglu said his party had exhausted all possibilities to form a coalition government, putting the country on course for fresh elections.
The lira depreciated as much as 1.2 percent to 2.8678 per dollar, before trading at 2.8635 at 6:56 p.m. in Istanbul. Speaking after his meeting with MHP’s leader Devlet Bahceli in Ankara, Davutoglu said the opposition party wouldn’t support a short-term government with his own AK Party, a minority AK Party government, or early elections.