People's support to Turkish lira increases

President Erdoğan's call to switch to the local currency to tackle the increase in value of foreign currencies, received a vast response among Turkish people

People's support to Turkish lira increases

World Bulletin / News Desk

The recent inevitable rise of the U.S. dollar compared to the Turkish lira has caused volatility on Turkish economy, especially after the U.S. presidential elections, surprisingly won by Donald Trump.

Addressing this issue, Turkish President Recep Tayyip Erdoğan said the recent volatility due to the steep increase in the value of the foreign exchange in Turkish markets will not have a significantly negative effect on the country's economy, like the 2008 financial crisis.

Erdoğan also urged Turkish citizens on Saturday to convert their foreign exchange savings into lira or gold.

The president's call received a vast response among the Turkish people in household goods industry.

The private sector also began backing the measures taken by the state, intending to tackle the sharp increase of foreign exchange within two days.

 

Last Mod: 05 Aralık 2016, 12:10
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