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The U.S. dollar-Turkish lira parity regressed to 4.58 after President Recep Tayyip Erdoğan's election success late Sunday.
After 4.68 parity closing on Friday in U.S. markets, the U.S. dollar/Turkish lira parity regressed about 2 percent after Turkish elections.
According to unofficial results, with 98.56 percent of ballots counted, Erdoğan got 52.52 percent of the vote.
Turkey's Supreme Election Council (YSK) on early Monday announced President Recep Tayyip Erdoğan won absolute majority in presidential election as 97.7 percent of ballot boxes were opened.Speaking hours after Sunday's presidential and parliamentary elections, YSK head Sadi Güven said Justice and Development (AK) Party, Republican People’s Party (CHP), Nationalist Movement Party (MHP), Peoples’ Democratic Party (HDP) and Good (IYI) Party surpass 10 percent threshold in the parliamentary election.Sadi said the remaining uncounted votes will not affect election results.Earlier on Sunday, Erdogan declared his success in Turkey's historic presidential and parliamentary elections.His ruling AK Party is also leading in parliamentary elections, with 42.4 percent of the vote counted.Along with the MHP, the AK Party’s election ally, the People's Alliance has won 53.6 percent of the vote so far.Erdoğan: Democracy winner of Turkish electionsTurks abroad celebrate Erdoğan's election victory
Erdoğan wins absolute majority, says electoral council
Prime Minister Binali Yıldırım has termed Sunday's presidential and parliamentary elections a "turning point" in Turkey's history of democracy.Addressing a huge crowd of supporters at the ruling Justice and Development (AK) Party's headquarters in capital Ankara, Yildirim thanked the Turkish nation for exercising their right to vote."Today is a festival for Turkey. This is a day with no losers but 81-million winners," he said.The premier said rights of every citizen would be ensured. "Rights of all Turkish citizens from 7 to 77 age are guaranteed."Everyone should be assured that Turkey will carry on with its stronger democracy."Yildirim said it is time for Turkey to achieve its 2023 goals, 2053 and 2071 visions with stability and confidence.Video: Turkey Elections 2018: Erdoğan and the People's Alliance win"The nation elected Recep Tayyip Erdogan as the first president of new system with virtue, will and courage and a clear result," he said.The premier said they were ready to reunite despite differences, to be together, and they would continue their "blessed march" with love and enthusiasm."The presidential system with its all fairness embraces the whole of Turkey, and development policy has been approved by our nation in this election," he added.Earlier on Sunday, Recep Tayyip Erdogan declared his success in Turkey's historic presidential and parliamentary elections.AK Party is also leading in parliamentary elections. Along with the MHP, the AK Party’s election ally, the People's Alliance has won majority of the votes so far.
PM calls elections 'turning point' in Turkey
The AK Party-MHP People’s Alliance also apparently secured a parliamentary majority with a combined vote of 53.59 percent.
According to analysts, now that uncertainty in Turkish elections is over, the Turkish lira would gain even more strength against the U.S. dollar. The volatility on parity is expected to slow down.