The Turkish president orders the opening of an investigation into the causes of the depreciation of the Turkish lira against the dollar

Monday 29 November 2021 13:21
 
Istanbul / NINA / - Turkish President Recep Tayyip Erdogan has ordered the opening of an investigation into the reasons for the depreciation of the Turkish lira against the US dollar.

And local media said that the Turkish president had tasked the Government Oversight and Audit Board with determining the causes of the lira’s decline in the wake of possible currency manipulation.

She added that Erdogan asked the supervisory board to determine the reasons for the decline of the lira and the institutions that bought large amounts of foreign currency and to determine whether any manipulation had occurred.

Erdogan had said earlier that his country is fighting an "economic war of independence" and will not submit to pressure to change this course, and that Turkey is witnessing manipulation around the exchange rate, interest rates and price hikes by those who want to take Turkey out of the equation.

The Turkish lira lost about 45 percent of its value this year, and recorded about half of those losses during the past two weeks, as it recorded today 1260 liras for every hundred dollars./End

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