Erdogan's Turks: Do not keep your dollars "under the pillow"

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Twilight News / new Turkish president, Recep Tayyip Erdogan, on Friday, calling for the Turks to sell foreign exchange, amid the continuing decline in the Turkish lira , which saw in the recent period down to historic lows against the dollar.

Erdogan said, speaking to reporters after Friday prayers, said that the Turks should not keep dollars "under the pillow , " he said , adding that Turkey had reached an agreement with some countries for trade in local currency.

Turkish currency lost since the beginning of the year , about 7 percent of its value against the dollar, and the accelerated decline since the parliament began to discuss constitutional reform project that aims to strengthen the powers of the president, which raises tension in the markets.

Economists fear that continued poor performance of pounds as a result of the security uncertainty with attacks attributed to Kurdish rebels and extremists, and at the level of political stability with the approach of the possibility of transition to a presidential system.

Erdogan has repeatedly asked the Turks to transfer their savings from foreign exchange to the Turkish lira, also urged banks and especially the government to cut interest rates, and said that the central bank should work on this issue.

The Turkish lira dropped, on January 3, to a new historic low against the US dollar, due to inflation figures , which were higher than expected, and security concerns that followed the attack on a nightclub in Istanbul.

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