Erdogan’s Audit Board to Probe FX Purchases After Lira Rout
Customers at a currency exchange bureau on Taksim square in Istanbul, Turkey.
Photographer: Moe Zoyari/BloombergThis article is for subscribers only.
Turkey’s top investigative body will focus on foreign currency purchases when it probes the reasons behind the lira’s plunge in November, a person familiar with the preparations said.
Investigators from the State Supervisory Council will be authorized to seek prosecution if criminal activity is suspected, the person told Bloomberg on Monday, speaking on condition of anonymity to disclose confidential details. The state-run Anadolu Agency, which first reported the impending probe on Saturday, said President Recep Tayyip Erdogan has ordered the council to determine whether currency manipulation took place.