Turkish lira strengthens

The Turkish nation has decided. A resounding vote for stability. Experts agree that the 'yes' vote will mark an end to political instability in Turkey's future, also that financial markets will be positively affected.The referendum results are expected to see the lira rally against the dollar, bring interest rates down and see record growth in the stock market.

The Turkish lira rallied to its highest level against the dollar in just under three weeks after Turkey's referendum on sunday. The lira strengthened 2.5 percent from 3.70 to 3.62 against the us dollar, before settling at 3.66.

The lira strengthened more than 3.5 percent in asian trade sunday, from 3.74 to 3.63.

Turks voted 51.37 percent in favor of proposed changes to the country's constitution. The reforms will, among other changes, usher in an executive presidency.


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