Erdoğan urges Turks to sell foreign currency to support lira

Erdoğan has vowed to not lose the economic war," while telling his citizens to "ignore campaigns against Turkey," saying "they may have their dollars, but we have our people and God"
Friday, 10 August 2018 15:34

Turkish President Recep Tayyip Erdoğan called on Turks Friday to support their struggling currency, the lira, by exchanging any foreign money, saying Turkey faces an economic war

"If you have dollars, euros or gold under your pillow, go to banks to exchange them for Turkish lira. It is a national fight," Erdoğan said in comments broadcast on national television.

The lira, which has lost a third of its value this year, fell on his comments and was trading at around 6.05 to the dollar after he spoke, nearly 9 percent weaker on the day.

“We will not lose the economic war,” Erdoğan said Aug. 10 after Friday prayers in the northern province of Bayburt during his tour of Black Sea provinces.

"However, I say it once again from here. If there is anyone who has dollars or gold under their pillows, they should go exchange it for liras at our banks. This is a national, domestic battle," he said.

"This will be my people's response to those who have waged an economic war against us."

“There are various campaigns. Don’t care about them. And don’t forget that if they have their dollars, we have our people and our God ... I want your patience and ardour,” said Erdoğan, as the Turkish currency lost more than 30 percent value against the greenback since the end of last year.