Turkey's embattled currency, the lira, on Tuesday hit new historic lows against the US dollar after Fitch rating agency expressed concerns over the central bank's independence in the wake of comments by President Recep Tayyip Erdoğan.
The Turkish Lira has slid to a fresh historic low of 4.66 against the dollar following a statement from the credit rating agency Fitch on May 22.
"Comments from the Turkish president raise the possibility that discretionary policymaking and policy predictability will come under pressure after June’s elections," Fitch stated, referring to Erdoğan’s remarks last week.
In an interview with Bloomberg TV while on a visit to London, Erdoğan signalled he wanted to take greater control over monetary and economic policy even if this "may make some uncomfortable".
The lira has lost over 14.9 percent of its value against the greenback in the past month.
