Turkish lira falls 10%, stocks drop 7% after Imamoglu's arrest
MG News | March 20, 2025 at 09:48 AM GMT+05:00
March 20, 2025 (MLN): Turkey’s benchmark stock index, BIST 100, fell sharply by 6.9% following the detention of Istanbul Mayor Ekrem Imamoglu on charges including graft and aiding a terrorist group.
The Turkish lira fell as much as 10% against the U.S. dollar, exchanging hands at 40.57 at 07:46 GMT.
The move by Turkish authorities has drawn criticism from the main opposition party, which has labeled it a "coup attempt against the next president."
Imamoglu, a prominent member of the opposition Republican People’s Party (CHP), is widely regarded as a strong challenger to President Tayyip Erdogan.
He is seen as a significant figure on the national stage and a likely presidential candidate for the CHP in the forthcoming election, according to Investing.com
The arrest on Wednesday, along with accusations of leading a crime organization, bribery, and tender rigging, has intensified a political conflict that may have far-reaching implications for the country’s future.
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| KSE100 | 172,399.90 320.00M | 1.59% 2696.30 |
| ALLSHR | 103,927.90 888.16M | 1.29% 1323.37 |
| KSE30 | 51,428.16 185.27M | 1.65% 836.84 |
| KMI30 | 246,743.08 136.63M | 1.75% 4243.24 |
| KMIALLSHR | 67,499.94 461.75M | 1.34% 890.73 |
| BKTi | 46,974.29 67.03M | 1.67% 773.64 |
| OGTi | 35,183.53 7.71M | 0.85% 295.91 |
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|---|
| Name | Last | High/Low | Chg/%Chg |
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| BITCOIN FUTURES | 64,560.00 | 64,800.00 63,430.00 | 900.00 1.41% |
| BRENT CRUDE | 86.80 | 89.90 85.80 | -3.58 -3.96% |
| RICHARDS BAY COAL MONTHLY | 123.00 | 0.00 0.00 | 1.10 0.90% |
| ROTTERDAM COAL MONTHLY | 131.00 | 131.00 130.00 | -1.75 -1.32% |
| USD RBD PALM OLEIN | 1,157.50 | 1,157.50 1,157.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 84.29 | 87.23 83.20 | -3.42 -3.90% |
| SUGAR #11 WORLD | 13.70 | 13.97 13.68 | -0.09 -0.65% |
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