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

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	134,653.98 130.81M	0.65% 871.63
ALLSHR	84,156.41 323.02M	0.65% 540.60
KSE30	40,887.45 66.37M	0.51% 205.68
KMI30	193,364.05 57.12M	0.90% 1723.17
KMIALLSHR	56,254.41 162.18M	0.65% 362.91
BKTi	36,938.09 5.59M	-0.14% -50.59
OGTi	28,334.77 2.02M	0.54% 153.27

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,620.00	118,645.00 115,635.00	4750.00 4.17%
BRENT CRUDE	68.88	69.16 68.65	0.24 0.35%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	1.00 1.04%
ROTTERDAM COAL MONTHLY	108.60	110.00 108.60	0.85 0.79%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.87	67.13 66.64	0.30 0.45%
SUGAR #11 WORLD	16.26	16.56 16.22	-0.30 -1.81%