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Investing.com -- Istanbul Mayor Ekrem Imamoglu was detained at his home on Wednesday, a day after Turkish authorities annulled his university diploma, a development that could hinder him from running against President Recep Tayyip Erdogan in the upcoming presidential election.
The Turkish lira depreciated 0.3% against the euro and has seen a decline of approximately 11.5% since mid-January.
Imamoglu, via a voice message relayed by his team, stated that his home was raided by security forces. He criticized the authorities, accusing them of employing the police for political agendas.
Imamoglu, 54, is considered the main political adversary to Erdogan. He emerged victorious over Erdogan’s chosen candidate in the Istanbul mayoral race last year.
On Sunday, he was expected to be announced as the presidential candidate for the Republican People’s Party (CHP), the primary opposition group.
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