Erdogan blames West, US for currency rate fluctuations

ANKARA (AA): Turkey’s president on Thursday accused the West, particularly the US, of trying to make things difficult for Turkey before Sunday’s local elections.

Exchange rate fluctuations are an operation by the West, particularly the U.S., to paint Turkey into a corner, Erdogan said in a televised interview.

Such attempts to manipulate exchange rates are a political imposition before the looming local polls, he added.

The U.S. dollar/Turkish lira exchange rate stood below 5.60 as of 3 p.m. local time (1200GMT) Thursday, while the exchange rate saw 5.70 over the past few days.

The USD/TRY was around 5.40 by market close on Wednesday, as one dollar exchanged for 5.38 Turkish liras at the beginning of this year. Also speaking on the Golan Heights, Erdogan said it is impossible for the UN Security Council and General Assembly to approve the U.S. President Trump’s decision to recognize Israel’s sovereignty over the occupied Golan . Unfortunately, the Gulf countries do not show firm stance on the Golan crisis, Erdogan criticized, urging them to raise their voice.