Fell to historic low of £20 against dollar today Turkish currency before the second round President elections in the country.

The Turkish lira, which has steadily weakened since Tayyip Erdogan’s strong performance in the first round of the presidential election, broke 20 against the dollar ahead of Sunday’s performance.

Erdogan, whose unorthodox monetary policy has worried foreign investors and caused the Turkish lira to plummet, is expected to remain in power after the second round of elections.

It is noted that inflation in Turkey remains at the level of 44%. Consumers are watching their purchasing power decline, and at the same time they are getting less and less food for their wages.

Recent government subsidies and attempts to support the pound threaten economic growth and could push the country into recession. The winner of Sunday’s round of elections will face big problems.

^{According to Reuters}