Tuesday, May 1, 2007

Turkish Lira Volatility May Remain High After Call for Early Election

(Bloomberg) -- Turkish lira options volatility may remain near a two-month high as investors seek protection against a decline in the currency's value after the nation's highest court annulled the presidential election.

The ruling prompted Prime Minister Recep Tayyip Erdogan to call for an early general election, possibly as soon as June 24, to affirm the legitimacy of the government, led by his ruling Justice and Development Party, also known as the AKP.


Read more at Bloomberg Currencies News

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