The Turkish lira is hitting a new record low against the dollar following statements by President Recep Tayyip Erdogan that if re-elected on June 24, it will have a greater influence on monetary policy. Today the Turkish pound is at 4,3981 against the dollar.
"When people are facing difficulties because of monetary policy, who will they hold accountable?" asked the Turkish President speaking on Bloomberg television.
"They will hold the President accountable. "Once they ask the president, then we have to give the image of a president who can influence monetary policy," said Tayyip Erdogan.
Since the beginning of 2018, the Turkish pound has fallen by 15,3%, with Erdogan characterizing the interest rates as a source of evil, asking for their further reduction.
Below in the Financial Times chart is the course of the Turkish pound.