LONDON (Reuters) - The top policymaker picks of Turkey's re-elected president Tayyip Erdogan are taking centre stage as markets try to gauge whether he will change course towards economic orthodoxy or double down on polic. | 10:22am
ANKARA: As Turkiye heads to a critical runoff vote to determine the nation’s president on Sunday, the central bank’s net foreign exchange reserves turned negative for the first time since 2002, dropping to minus-$151.3 million on May 19, due to increased market demand since the first round of the elections.
Turkey's sovereign dollar bonds and equities tumbled, and the cost of insuring exposure to the country's debt spiked as Turkey's presidential race heads to a runoff with incumbent Tayyip Erdogan leading his opposition rival.