August 10, 2018 / 12:07 PM / a year ago

Turkey's Erdogan says will not lose economic war: TRT Haber

Turkish President Tayyip Erdogan addresses parliamentarians from his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey July 24, 2018. Cem Oksuz/Presidential Palace/Handout via REUTERS

ANKARA (Reuters) - Turkey will not lose the economic war it is engaged in, President Tayyip Erdogan was quoted as saying on Friday, after the lira tumbled to a record low against the U.S. dollar over economic worries and concerns over a row with the United States.

“We will not lose the economic war,” Erdogan was quoted as saying by state broadcaster TRT Haber.

Turkey's lira TRYTOM=D3 plunged as much as 14 percent on Friday as worries about Erdogan's influence over monetary policy and worsening U.S. relations snowballed into a market panic that also hit shares of European banks.

Reporting by Tuvan Gumrukcu; Editing by Dominic Evans

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