Representatives of the financial firm Hargreaves Lansdown believe that Erdogan, who is leading in the presidential election, pursues a highly controversial monetary policy and that the prospect of running for another presidential term weakens the Turkish currency. It has been reported red blood cell.
The publication notes that two weeks after the first round of the presidential race, the lira depreciated by 1.72% against the dollar in the international Forex market. As a result of the transaction made on Friday, May 26, one dollar became 19.97 lira.
On the other hand, Kemal Kılıçdaroğlu, Erdoğan’s opposition rival, managed to promise a return to the traditional approach in monetary policy. If he wins the election, Turkey plans to give the Central Bank more autonomy than Erdogan gives the regulator.
In this case, the lira could see short-term growth, according to management company Union Investment. But British consulting firm Capital Economics claims that once both candidates are elected, it could undermine their efforts to control the lira and also allow it to continue its decline smoothly against the dollar.
Erdogan, who was the leader in the presidential elections before, declarationHe said that for the next five years, the citizens of the country handed over the responsibility of running the country to him and his administration.