Exchange Rate Statement by AKP: Fluctuations Will End Sooner or Later
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The Vice Chairperson of the Justice and Development Party (AKP) Cevdet Yılmaz has made a statement on the recent increase in the exchange rates.
Referring to the decrease in the value of Turkish Lira as "fluctuations that cannot be explained on economic grounds", Yılmaz has shared the following post on his Twitter account:
"Turkey is a country with political stability and concrete future goals. The fluctuations, which have recently been experienced in financial markets and cannot be explained on economic grounds, will subside sooner or later."
"We will overcome these periodic fluctuations thanks to the calm and rational policies of our government and institutions, our budget discipline and reform program as well as by protecting our moral values.
"Apart from introducing projects that will substitute import, we will also support sustainable growth by reducing the current account deficit through an increasing export of goods and services and strengthen our financial structure against financial speculations by diversifying our resources."
From 3.53 to 5.28 TRY in one year
As of 4.10 p.m., when this news report was prepared, the exchange rate of US Dollar was 5.28 Turkish Lira while the exchange rate of Euro was 6.13 Turkish Lira.
On the same day last year (August 7, 2017), one US Dollar was 3.53 TRY while one Euro was 4.15 TRY.
(EKN/SD)