Erdogan Accuses US of Undermining Turkish Economy Ahead of Elections

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Turkey’s President Recep Tayyip Erdogan accused the West, particularly the United States, of manipulating its national currency rates as the country gears up for elections this weekend.

The lira slid nearly six percent last Friday, prompting Erdogan to call for a crackdown on market “manipulations” and Turkish regulators to open a probe into investment banks.

After recovering losses early this week, the lira fell again by around five percent on Thursday to 5.59 against the US dollar. Last year, the currency collapsed 30 percent after the United States imposed sanctions and increased tariffs on some Turkish products.

Erdogan said the currency fluctuations are part of a plot by the West to “corner Turkey, particularly by the US.” He said Turkey needed to “discipline speculators in the market,” adding that the alleged interventions would not succeed.

After recovering losses early this week, the lira fell again by around five percent on Thursday to 5.59 against the US dollar. Last year, the currency collapsed 30 percent after the United States imposed sanctions and increased tariffs on some Turkish products.

Source: Russia Today

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