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

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August 10, 2018 8:06 AM EDT

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 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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