Turkish President Recep Tayyip Erdoğan
Currency manipulations aim to cast doubt on Turkey's strong and solid economy, President Recep Tayyip Erdogan said Sunday.
Speaking at Turkey-Kyrgyzstan Business Forum in Kyrgyz capital Bishkek, Erdogan said: “They try to cast doubt on Turkey’s strong and solid economy via currency manipulations,” without elaborating.
Defying the attacks targeting Turkish economy, Erdogan said Turkey is resolved to establish independence in economy, mainly in defense industry.
Political tensions between Ankara and Washington had sparked worries in markets in August, after U.S. President Donald Trump threatened to use economic pressure over an American pastor who faces terrorism-related charges in Turkey.
The Turkish lira has been losing its value against the U.S. dollar past several weeks after the U.S. president doubled tariffs on Turkish steel and aluminium.