Albayrak says lira exchange rate in Turkey’s hands, does not look at value – report

Turkish Treasury and Finance Minister Berat Albayrak said he does not look at the lira’s value against major currencies.

Albayrak was responding to a question posed by Turkish journalist Hakan Güldağ. He spoke after presenting the government’s new three-year economic programme to reporters in Ankara on Tuesday, the T24 news website reported.

“The exchange rate is not important to me, I’m not looking at it,” Albayrak said. “Our manufacturing industry is strong. The exchange rate is now in our hands.”

The lira dropped to a record low of 7.8542 per dollar on Tuesday, taking losses this year to about 24 percent.

Albayrak made forecasts for economic indicators including growth, inflation and unemployment at the presentation.

He said the government expected an economic expansion of 0.3 percent this year and inflation to slow to 10.5 percent in December from 11.8 percent last month. Turkey calculates its economic growth by using lira-dollar exchange rates.