Erdoğan orders probe into possible foreign currency manipulation

Turkish President Recep Tayyip Erdoğan has ordered an investigation into possible currency manipulation, Turkey's state-run news agency reported on Saturday.

It said Erdoğan had tasked the State Supervisory Council, an auditing agency that reports to the presidency, to identify institutions that had bought large amounts of foreign currency and to determine whether any manipulation had occurred.

During the speech, Erdoğan stressed Turkey was fighting an "economic war of independence" and would not yield to pressure to change course.

"We are seeing the games that are being played over the exchange rate, interest rates and price rises by those who want to push our country out of the equation," he said.

Turkey's State Supervisory Council can demand that organisations present relevant information and documents, and will forward its findings to relevant authorities, state-owned Anadolu said.