Turkish lira falls 10%, stocks drop 7% after Imamoglu's arrest

By MG News | March 20, 2025 at 09:48 AM GMT+05:00

0:00

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.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	122,761.64 221.15M	0.42% 515.00
ALLSHR	76,639.56 738.59M	0.55% 415.67
KSE30	37,384.76 83.00M	0.27% 100.90
KMI30	182,010.54 133.65M	0.09% 156.82
KMIALLSHR	52,673.75 393.22M	0.41% 217.37
BKTi	31,224.18 21.69M	0.75% 231.73
OGTi	27,512.98 12.61M	-0.29% -80.05

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,035.00	108,370.00 107,205.00	195.00 0.18%
BRENT CRUDE	67.82	68.11 67.63	0.14 0.21%
RICHARDS BAY COAL MONTHLY	88.00	0.00 0.00	-2.60 -2.87%
ROTTERDAM COAL MONTHLY	103.45	0.00 0.00	-0.05 -0.05%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	65.09	65.38 64.89	0.17 0.26%
SUGAR #11 WORLD	16.62	16.65 16.31	0.26 1.59%