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  • 11-08-18

    Turkey's Erdogan calls on gold, hard currency exchange into national currency

    (MENAFN) Turkey's President Recep Tayyip Erdogan has called for an exchange of gold and hard currency into the Turkish lira after it hit a record low.

    "The dollar cannot block our path. Don't worry," the Turkish president stressed while speaking in the northeastern city of Bayburt, describing the situation as a "national battle" against economic rivals.

    Erdogan noted "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 further added "this will be my people's response to those who have waged an economic war against us."

    It comes after the Turkish lira suffered 20 percent of losses, plummeting into a record low of 7 to the US dollar ahead of being struck with losses to trade at 6.36.

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