Erdogan's tyranny deteriorates Turkish lira

The Turkish lira continues to deteriorate against the dollar due to Erdogan's influence and practices against the opposed parties to his country's economic policy.

18 September, 2018 15:25

NEWS DESK

The Turkish lira deteriorated against the dollar on Tuesday as the investors remain concerned about the impact of the Turkish President Recap Tayyip Erdogan on his country's economic policy.

The deterioration of the Turkish currency came after the Turkish president called for an investigation in the role of the main opposed party in Ish Bank that is considered the country's largest bank.

An analyst who asked not to be named said that the morale had been damaged in the result of Erdogan's comments to Hurriyet newspaper about conducting the authorities an investigation with members of the Republican People's Party (CHP) about 28% share in Ish Bank.

The Turkish currency recorded 6.38 liras to the dollar by 6:28 GMT, declining the price on Monday which amounted to 6.3150 lira.

The losses inflicted to the Turkish currency this week deleted the gains achieved after the central bank that raised the basic interest rate by 625 points last Thursday.

A.H

ANHA