Lira will appreciate gradually – Erdogan
The Turkish lira will find its level on the foreign exchange market on its own and appreciate gradually, the country’s President Recep Tayyip Erdogan said on Friday.
In a speech televised by the country’s A Haber broadcaster, Erdogan warned that the currency speculators will face legal consequences, as will retailers who keep their prices artificially high after the currency rebounds.
After a plunge prompted by Erdogan’s earlier remarks, the lira recovered and erased most of its monthly losses. The dollar still stands 41.85% higher compared to the Turkish currency on a yearly level.
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