As Turks prepare to head to the polls on Sunday (7 June), they do so knowing that surveys suggest it will be the tightest election in decades<br /><br /> Whatever the result of the election, the Turkish lira – one of the worst performing major currencies – is expected to continue to slide.<br /><br /> Economist Arda Tunca told Euronews: “Will the dollar to lira exchange rate get higher than now? Yes definitely, it will happen, based on what is happening globally. <br /><br /> “But there is also an additional risk – the possibility of an economic administration that fails to gain the confidence of the financial markets. That would further deteriorate the position of the Turkish lira.”<br /><br /> A conclusive victory for President Recep Tayyip Erdogan’s AK party would allay some investor fears of instability, but also provokes concern.<br /><br /> Erdogan has been criticised for refusing to allow the Turkish central bank to raise rates to try to stem the lira’s decline.
