The Turkish lira fell by 23% on Tuesday, November 8, after the country's president, Recep Tayyip Erdogan, announced his intention to win his "economic war for independence."
The lira fell to a record 12,49 against the dollar.
Only since the beginning of the previous week, the rate of the Turkish currency has fallen by 20%, and since the beginning of the year - by 40%.
The publication notes that Erdogan has put pressure on the central bank to turn to an aggressive easing cycle, which, according to him, is aimed at increasing exports, investment and jobs - despite the fact that inflation has soared to almost 20% and the currency's depreciation accelerates, which strongly affects the incomes of citizens.
Former deputy head of the Central Bank of Semih Tyumen, fired by Erdogan in October, called for an immediate return to the policy that protects the value of the lira.
"This irrational experiment, which has no chance of success, must be stopped immediately, and we must return to a quality policy that protects the value of the Turkish lira and the prosperity of the Turkish people," he said on Twitter.
Analysts call the reasons for the fall of the lira reckless and premature easing of monetary policy.
