A new slump for the Turkish pound, falling 21% since the beginning of the year, as investors pushed it to a new low - a record amid growing concerns about President Tayyip Erdogan's influence on monetary policy.
The Istanbul Stock Exchange Group announced that it has converted all its currency into Turkish pounds to show its confidence in the Turkish pound.
During trading in Asian markets at night, the Turkish currency fell to a historically low level of 4,8450 pounds per dollar, while recently hitting 4,8228 pounds. The pound also fell sharply against the Japanese yen, amid reports that Japanese small investors are selling the pound because its exchange rate has fallen to stop-loss levels.
React brought the new slump
Bekir Bozdag, Deputy Prime Minister of Turkey
"Those who believe that they will change the result of the elections by playing with the dollar and giving results that will damage the pockets of the people are being deceived"
The deputy prime minister of the Turkish government, commenting on the new record fall, said that "the people saw the game, they saw the players".
"Turkey, with the help of Allah, is a strong economy."
Economy Minister Nihat Zeybekci noted that the right instruments are available to do the right thing with monetary policy and the value of the Turkish pound, adding that they must do what is necessary without involving the President and the Prime Minister. At the same time, he argued that at the moment the monetary value is not at its normal level, but there is still no permanent damage.
Republican People's Party (CHP) presidential candidate Muharrem Ince said at a rally in Erzincan that a rise in the exchange rate would lead to high inflation.
"In order to eliminate this threat, I appeal to you, Mr Erdogan. Review your financial advisers who give you the wrong information about the economy, get rid of those who lie to you. Do not interfere in the independent policy of the Central Bank ".
The director of the Turkish bank Halk Bank Osman Arslan advised calm and estimates that the reasons for the continuous devaluation of the Turkish pound are:
Economics professor Umit Ozlale said that what has led most to the devaluation of the Turkish pound is political interventions at the Central Bank.
"I am afraid that from now on even the increase of interest rates will not help."