Turkish Lira Volatility Jumps, Banks Climb in Pre-Vote Trading
- Lira’s one-week implied volatility surges to 74% from 8.4%
- Turkish bank stocks rally as much as 9%, led by Isbank
Residents wait at a bus stop under a large Turkish flag building hoarding in Istanbul.
Photographer: Kerem Uzel/BloombergThis article is for subscribers only.
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Traders are ramping up protection against turmoil in the lira a week before Turkey’s elections, sending a measure of anticipated swings in the currency to the highest in the world.