Turkish Lira continues to tumble, Erdogan compares forex speculators to terrorists

Turkish President Recep Tayyip Erdoğan noted yesterday that there is no difference between an armed terrorist and a terrorist holding dollars, euros and interest, describing the goal of the latter to take over the country.

The President also mentioned that the currency is being used as a weapon and noted that the Central Bank and other banks must spoil these schemes.

Erdoğan added none of the economic problems could justify the high volatility in the foreign currency rate.

Everyone already sees and knows the attacks that Turkey has been subjected to also have an economic aspect. There is no difference between a terrorist who has a weapon or bomb in his hand and a terrorist who has dollars, euros and interest in terms of aim. The aim is to bring Turkey to its knees, to take over Turkey and to distance Turkey from its goals. They are using the foreign exchange rate as a weapon,” Erdoğan said at his 34th meeting with village chiefs at the Presidential Palace in Ankara.

He also said the country should seek ways to overcome problems by looking for new markets for exports, developing new destinations and marketing methods for tourism and using domestic resources and technology to deal with contraction.

The president also reiterated his call on the business world to invest, produce and increase employment by taking risks today as there might otherwise be nothing left to risk tomorrow.

Meanwhile, the Turkish lira weakened to a record low against both the U.S. dollar and euro.

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