Baku. Musa Ahmadov - APA-Economics. Turkey’s lira tumbled the most in five years as Prime Minister Ahmet Davutoglu was said to plan to step down this month, threatening to drag the county back into the kind of political turmoil that spurred an investor exodus last year, APA-Economics reports citing to Bloomberg.
The currency plunged 3.9 percent on Wednesday, its steepest daily slump since 2008.
However, the Lira has risen 1% today.
Davutoglu’s ruling Justice & Development Party, or AK Party, will hold a leadership contest within about 15 days without Prime Minister Ahmet Davutoglu as a candidate, a person familiar with the matter said.