Live

Lira gains 20 percent after Erdogan’s speech

The Turkish president vowed to control the currency and implement a plan to stop the lira from losing its value.

Rahshan Saglam
Press TV, Istanbul

Turkish lira gained 20 percent on Monday following a speech by President Recep Tayyip Erdogan; the recovery followed a series of decisions announced by the president in a presser after the cabinet meeting. He said new measures will encourage Turks to keep their savings in local currency instead of exchanging it to US dollar and Euro.