Erdogan urges Turks to switch savings to lira, says crisis temporary

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DPA

Turkish depositors should keep all their savings in lira, urged President Recep Tayyip Erodgan on Friday, arguing that the country’s currency volatility would soon be under control. “I want our citizens to keep their savings in our own currency and run all their businesses with our own currency,” Erdogan told a group of business people in Ankara. Individual investors have seen their savings melt in the face of high lira volatility during the past year. The currency’s losses against the dollar reached 60 per cent, when it hit a record low of more than 18 lira to the dollar last week. A new sche…

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