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Turkish stocks rise, lira hits fresh record low after Erdogan wins re-election

Por: MarketWatch Business May 29, 2023

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Turkey’s BIST index rose nearly 4%. The index has gained 94% over 12 months in local currency terms, as investors in the country have turned to the stock market to shelter from soaring inflation amid a severe cost-of-living crisis. The country’s annual inflation dipped to just over 43% in April, but shot above 85% last year due to Erdoğan’s determination to cut interest rates despite price pressures, with the currency bearing the brunt of... + full article



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