June 24, 2019 / 4:19 AM / a year ago

Turkish lira firms after opposition wins Istanbul election

ISTANBUL, June 24 (Reuters) - The Turkish lira strengthened overnight after the opposition dealt a stinging blow to President Tayyip Erdogan by winning control of Istanbul in a re-run mayoral election on Sunday.

The lira firmed to 5.72 overnight after the outcome emerged, rallying from a close of 5.8140 on Friday. The gains in the currency were subsequently eroded and it stood at 5.7750 at 0415 GMT.

Ekrem Imamoglu of the Republican People’s Party (CHP) secured 54% of votes, Turkish broadcasters said - a far wider victory margin than his narrow win three months ago. (Reporting by Daren Butler; Editing by Tuvan Gumrukcu)

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