In comes currency speculator George Soros, the Turkish Lira went in almost free fall loosing 1/5 of it's value, which resulted in the following call's by Erdogan and the people are listening.
“Our currency is being targeted through foreign exchange speculation,” Erdogan told a gathering of provincial administrators at his presidential palace in Ankara Dec. 7. Speculators, he claimed, are “trying to divide and destroy” Turkey. “If you love this country, if you love this people, you should switch to Turkish lira,” he exhorted.
Turkish lira recovers as people heed Erdoğan's call
Ordinary Turks, institutions follow president's advice to support lira by selling foreign currency
Turkey's Erdogan urges Russia, China & Iran to trade in local currenciesThe Turkish lira gained 0.17 lira against the U.S. dollar over five days by Wednesday following President Recep Tayyip Erdoğan's call to protect the currency by exchanging dollars for liras.
On Wednesday, the Defense Ministry announced that its support fund had switched its foreign exchange savings to the lira.
According to a statement, $262.7 million and €31.3 million in foreign exchange savings were converted to the local currency in response to the president's call.
The Energy Market Regulatory Authority (EMRA) also announced that it would change to use the lira for natural gas distribution tenders and the Turkish Standards Institute said it had converted all cash assets to the lira.
They followed the Borsa Istanbul stock exchange, which on Dec. 2 decided to convert all its cash assets to lira, the Privatization Administration as well as chambers of commerce and industry and ordinary citizens who sold their foreign currency savings for lira.
The president's call also saw small businesses offering free goods and services to those who could prove they had converted to lira. In the northwestern province of Bursa, marble salesman Enes Alan offered free gravestones.
Borsa Istanbul's BIST 100 index closes nearly 2.5 percent higher; Turkish lira gains considerable value against US dollar
The Turkish premier also touch upon the measures taken against the inevitable rise of the U.S. dollar compared to the Turkish lira by saying that public institutions will no longer sign contracts in U.S. dollars.
https://www.rt.com/business/369203-erdo ... urrencies/
Turks will protect their economy, says Erdoğan aide
http://www.yenisafak.com/en/economy/tur ... ll-2576622
Erdoğan urges people to switch to local currency
http://www.yenisafak.com/en/economy/erd ... cy-2574320
