erdogan wants trade with russia china in local currencies
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

As he continues his efforts to strengthen the falling lira

Erdogan wants trade with Russia, China in local currencies

Arab Today, arab today

Arab Today, arab today Erdogan wants trade with Russia, China in local currencies

President Recep Tayyip Erdogan
Ankara - Arab Today

Turkish President Recep Tayyip Erdogan said his country was moving towards allowing trade with Russia, China and Iran to be conducted in local currencies, as he continues his efforts to strengthen the falling lira.

"If we buy something from them, we will use their money, if they buy something from us, they will use our currency," he said, ahead of a trip by Turkish Prime Minister Binali Yildirim to Russia for meetings on Tuesday.

Erdogan -- who previously said discussions were underway with Moscow, Beijing and Tehran on the issue -- added that instructions related to this proposal had been given to the central bank.

Erdogan repeated a call for Turks to convert the euros, dollars and other foreign currency "under their pillows" into Turkish lira during a speech in the central city of Kayseri.

"Our Turkish lira is blessed," he told a cheering, flag-waving crowd after opening a museum in the city named after his predecessor and long-time friend Abdullah Gul.

Ankara hopes such demands will help the lira win back the losses it has suffered over the past few months since a failed coup in July when a rogue military faction tried to oust Erdogan from power.

In November alone, the lira haemorrhaged more than 10 percent while it continues to reach record lows against a stronger US dollar.

The lira on Friday reached a record low of 3.58 to the dollar before making up some of the loss.

- 'Patriots use lira' -

In another televised speech on Sunday, Erdogan urged owners of shopping malls to "change paying their rent in foreign currencies to TL (Turkish lira)" to prove they are "patriotic".

He gave an example of one mall owner who told Erdogan "immediately, I will change to lira" after a brief telephone call.

The government also planned for tenders to be offered in the Turkish currency, the president said.

Erdogan later repeated his call for lower interest rates and said the government's economic coordination committee which met on Friday for five hours agreed they should be cut.

He accused unnamed individuals of attempting to launch a putsch against the country through interest rates, the stock exchange and foreign currency movements.

Ankara slashed its growth forecast to 3.2 percent from 4.5 percent for this year as the political turbulence and terror attacks in the past year take their toll.

After several months of consecutive rate cuts this year, the central bank announced in November a surprise hike to its main interest rate for the first time in nearly three years, in a bid to support the embattled lira.

Hours after the president's first mention of changing currencies to lira, the Istanbul Exchange said it would convert its cash assets "in support" of his call.

Meanwhile, Metro Holding's chairman Galip Ozturk said on Twitter that he would give a free ticket to use on Metro Tourism buses to anyone who changed $500 (470 euros) to lira and sends an image of the official receipt to a phone number he provided.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

erdogan wants trade with russia china in local currencies erdogan wants trade with russia china in local currencies

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

erdogan wants trade with russia china in local currencies erdogan wants trade with russia china in local currencies

 



GMT 21:16 2016 Monday ,27 June

Zaki Badr discusses cleaning problem in Giza

GMT 21:46 2017 Saturday ,14 January

Turkey arrests 60 businessmen for alleged Gulen ties

GMT 22:38 2017 Friday ,24 March

Abbas meets with Merkel in Berlin

GMT 09:02 2017 Monday ,27 March

Tunisian Premier Concludes Visit to Sudan

GMT 15:54 2017 Friday ,01 September

Attorney General Directs Prosecutors to inspect Prison

GMT 09:22 2017 Sunday ,31 December

HM King condoles with Afghanistan President

GMT 10:12 2016 Wednesday ,06 April

Strong dollar, mild weather shrink H&M profits

GMT 17:03 2016 Saturday ,24 December

7 police killed in attacks in Afghansitan

GMT 13:51 2017 Friday ,17 March

Israel denies Syria shot down a warplane

GMT 04:08 2017 Thursday ,05 January

Carbon tax can fund clean energy transition

GMT 19:27 2016 Wednesday ,14 September

Alstom to go ahead with plans to shut down Belfort plant
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday