The Turkish Lira has fallen to its lowest level in more than a year after Prime Minister Recep Tayyip Erdogen threatened protestors and lashed out against financial speculators who have been making profits from the ongoing protests in the country.
Erodgan warned that his patience has limits as anti-government protests continued for a tenth day. Thousands of protestors staged demonstrations in Istanbul, Ankara and other cities as they continue to defy Erodgan’s increasingly authoritarian government.
Erdogan said his government would be ready to meet a representative for the protesters, as he spoke to his supporters in the cities of Adana and Mersin before a multi-stop speaking tour in Ankara at the weekend. If the demonstrators remain in the streets, “we’ll have to answer them in the language they understand,” he said.
For a second night in a row, police fired tear gas and water cannon in an attempt to disperse demonstrators in Ankara. People are protesting against what they see as an attack on their rights and the violent police crackdown on a local protest in an Istanbul park.
“If you look in the dictionary, you will see how right a description this is,” Mr Erdogan said addressing cheering supporters as he arrived at Ankara airport. “Those who burn and destroy are called ‘capulcu’ (looters or vandals), those who back them are of the same family.”
“We remained patient, we are still patient but there’s a limit to our patience,” he continued.
Investors have chosen to sell off the currency and turn to safer havens such as the Euro and US Dollar as the situation drags on. Fears are growing that the demonstrations could escalate further the more Erdogan takes a hard stance against his opponents.
Current Turkish Lira (TRY) Exchange Rates
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The Turkish Lira/Pound Sterling Exchange Rate is currently in the region of: 0.3391 <
The Turkish Lira/Euro Exchange Rate is currently in the region of: 0.3982 <
The Turkish Lira/ US Dollar Exchange Rate is currently in the region of: 0.5265 <
The Turkish Lira/Japanese Yen Exchange Rate is currently in the region of: 51.9714
The US Dollar/Turkish Lira Exchange Rate is currently in the region of: 1.8990>
The Japanese Yen/Turkish Lira Exchange Rate is currently in the region of: 0.0192 >
(Correct as of 11:45 am GMT)
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