ANKARA, Turkish President Recep Tayyip Erdogan said the currency manipulations aim to cast doubt on Turkey’s strong and solid economy, Anadolu news Agency said on Sunday.
Speaking at Turkey-Kyrgyzstan Business Forum in the Kyrgyz capital Bishkek, Erdogan pointed out that dependence on dollar in international trade had become a big problem. “We need to gradually end the monopoly of the dollar once and for all by using local and national currency among us,” he said.
Defying the attacks targeting Turkish economy, Erdogan said Turkey is resolved to establish independence in economy, mainly in the 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 Ankara to resolve the issue of an American pastor who faces terrorism-related charges in Turkey.
The Turkish lira has been losing its value against the U.S. dollar since several weeks ag after the U.S. president doubled tariffs on Turkish steel and aluminum.
Source: Kuwait News Agency