Recep Tayyip Erdogan has previously described himself as an "enemy of interest rates".
The lira weakened to over 4.80 per dollar on Wednesday, down some 5 percent since the previous day.
Earlier in the day, Turkey's central bank hiked the late liquidity window lending rate to 16.5 percent from 13.5 percent as part of its efforts to stem the decline of Turkish lira against the USA dollar, which hit another historical low to 4.93 on Wednesday.
The Turkish lira has pared its heavy losses against the dollar following an emergency interest rate hike by the central bank.
For its part, the central bank said in a statement after its meeting that it would continue to use all available instruments in pursuit of its price stability objective.
Analysts will now await further reaction to see whether the central bank will be under pressure to introduce another rate increase at its next scheduled policy meeting on June 7.
"Accordingly, the committee made a decision to implement a strong monetary tightening to support price stability".
"It's impossible to say that the recent fluctuations in the foreign exchange rates are correlated to Turkey's macroeconomic figures", he said.Читайте также: Houston Rockets give free National Basketball Association playoff tickets to Santa Fe students
"Our institutions, which are responsible for maintaining monetary policy should act ..."
The Central Bank kept its policy rate - the one-week repo rate - constant at 8 percent while the marginal funding and overnight borrowing rates were kept constant at 9.25 and 7.25 percent, respectively.
However, on Wednesday he tweeted his full support for the country's central bank.
Things began to fall apart when President Erdogan who was in London for a three-day visit to calm concerns of worldwide investors told Bloomberg last week that he would seek a greater say in shaping monetary policy. As FXStreet's own Pablo Piovano noted just before the central bank's intervention, "on the flip side, the next support is located at 4.4920 (10-day sma) followed by 4.3227 (21-day sma) and then 4.2197 (low May 10)".
The Istanbul bourse earlier said it was taking measures to convert its foreign exchange assets to lira to "fight speculative actions aimed at creating a negative image of Turkey", but it was unclear if this would have any impact on the currency.
Mr Erdogan has said he plans to take more control of the country's finances after the election on 24 June.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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