Turkish President Recep Tayyip Erdogan urged on Friday his nation to change all savings in U.S. dollar and gold into Turkish lira.
“Dollar will not block our way. Let’s respond them with our national currency,” Erdogan said in his address to crowds in the northern Province of Bayburt of the Black Sea Region.
“Change your dollars and gold under the mattress to the local currency,” he added.
The Turkish president described the campaign as a “national struggle” in response to “those who declared economic war” against Turkey.
Meanwhile, Erdogan ascribed the current “economic problems” to “artificial financial instability waves” stoked by foreign actors, rather than structural issues involving employment or the banking system.
He also blamed foreign meddling in Turkey’s economy because of “some bilateral disagreements,” hinting at the tension between Turkey and the United States.
Earlier in the day, the Turkish lira hit an all-time low of 6.3 against the U.S. dollar, a day after a deadlock in bilateral talks in Washington which aimed to resolve the political crisis between the two countries.