Erdoğan calls foreign currency speculations a weapon
by Daily Sabah
ISTANBULJan 13, 2017 - 12:00 am GMT+3
by Daily Sabah
Jan 13, 2017 12:00 am
Speaking at a meeting with local administrators at the Presidential Complex, President Recep Tayyip Erdoğan said foreign the currency is being used as a weapon and noted that the Central Bank and other banks must spoil these schemes. He expressed his confidence on the Central Bank, saying it has the aptitude to take necessary measures.
Talking about existing economic troubles, Erdoğan said none of the economic problems could justify the high volatility in the foreign currency rate.
Pointing out that the world economy is going through structural transformation, Erdoğan said the recent developments would yield new results and new institutions and Turkey is working to seize these opportunities. He stated that the speculations on the foreign currency had no legitimate grounds and it was evident that by playing with small numbers and on-paper transactions, a surge in foreign currency rate has been created.
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