Turkey's Şimşek emphasizes market fluctuations stemming from U.S.
Turkish Deputy Prime Minister Şimşek on Wednesday called attention to the the U.S. case against Reza Zarrab caused the market fluctuations in Turkey.
- Economy
- Reuters
- Published Date: 12:00 | 22 November 2017
- Modified Date: 11:52 | 22 November 2017
The market fluctuations besetting Turkey are temporary and will pass, including those stemming from the U.S. case against Reza Zarrab, a wealthy gold trader, Turkish Deputy Prime Minister Mehmet Şimşek said on Wednesday.
Şimşek was speaking at a conference in Istanbul after the lira hit a fresh record low of 3.98 against the dollar, driven partly by strains in ties with the United States over the trial.
Şimşek also said the exchange rate was causing inflationary pressure, but the inflation would fall to single digits sooner or later.
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