Erdogan comments on the lira, “We eliminated the bubble”

Urgent: Erdogan comments on the lira

The economic plan to save the Turkish lira succeeded in achieving its goal, and the dollar rose from 18 lira/dollar to 11 lira/dollar, with a strong rise. However, the lira experienced a significant decline today, as it lost more than 4% of its value, but it still maintained the levels of 11 liras / dollars and has not yet slipped to 12 liras / dollars, despite reaching 11.9 liras / dollars hours ago.

Economic plan details: Urgent: Details of the economic plan that revived the Turkish lira

The Turkish president issued several statements today, admitting that The government has eliminated the exchange rate bubble by taking steps to protect deposits lira Turkish against volatility.

Ahead of a meeting with economists and academics, Erdogan also mentioned that the Turkish economy will enter a very different environment this summer thanks to a “new economic model” in the form of low interest rates.

Erdogan said last Monday that the set of steps included in the plan would ease the burden of the currency collapse in the past weeks and encourage Turks to save in the local currency instead of the dollar, after the collapse of the Turkish lira to 18 liras for every one dollar, which has now recovered and is trading at 11.6 liras for every dollar. One.

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