Turkish police have launched a legal inquiry into 271 social media accounts that shared posts with regards to the recent collapse of the lira.
A statement released by the police on Nov. 24 said the relevant social media accounts had “incited the public into hatred and hostility by manipulating the fluctuations that occurred in the foreign exchange rates.”
The statement further accused the relevant social media users of sharing “disinformation” and “manipulative" messages, saying that they had “called on people to the streets for physical violence.”
On Nov. 23 evening, demonstrations were held in several Turkish cities in the face of the lira's historic crash, with protesters demanding the government's resignation. Citizens slammed the ruling Justice and Development Party (AKP) over its failing economic policies, shouting slogans of “AKP resign.”
The currency slipped back towards its record low on Nov. 24, driven by worries over the economy after Erdoğan defended recent sharp rate cuts despite widespread criticism and calls for a reversal.
The lira has lost 43% of its value this year and more than 22% since the beginning of last week alone.
Despite Erdoğan defending the central bank's monetary policy and vowing to win his "economic war of independence," there is widespread criticism from those calling for action to reverse the slide in the currency, including from top economists.
There was no hint at an intervention to stem the meltdown. The central bank said on Nov. 23 it could only do so under certain conditions in "excessive volatility."