President Erdogan repeats call for Turkey to convert mattress savings in foreign exchange into Turkish lira and gold.
President Recep Tayyip Erdogan has said Sunday that Turkey has taken steps to do its foreign trade in its national currency.
Speaking at an inauguration ceremony in the central province of Kayseri, Erdogan said: “We have taken steps also to do trade with Russia, China, and Iran in our local currency.”
According to Eurasia Daily, Turkey offers Georgia scheme of trading with national currency and not in Euro or USD, as for them the Ministry of Economy of Turkey starting caring on negotiations with Georgia, Azerbaijan, Kyrgyzstan and Iraq.
“If we buy something from them [foreign countries], we will do that in their currency; if they buy something from us, they will do it in our currency.”
Erdogan noted that Turkey will “play its own game” in the economic arena against “all games” played against it.
The president reiterated his Friday call on Turkish citizens to convert their foreign exchange savings into Turkish lira and gold to help boost the value of the local currency.
Following Erdogan’s call to support the declining Turkish currency against the US dollar, Turkey’s stock exchange also decided the same day to convert all of its cash assets into Turkish lira.