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FX-protected Turkish lira deposits surpass $2.24B in value: Erdogan

Turkey Materials 24 December 2021 23:39
FX-protected Turkish lira deposits surpass $2.24B in value: Erdogan

New FX-protected Turkish lira deposits have reached TL 23.8 billion ($2.24 billion) as of today,” President Recep Tayyip Erdogan said during a televised interview late Friday, Trend reports citing Daily Sabah.

Speaking during an A Haber broadcast, Erdogan added that the quick uptake in the amount of FX-protected lira deposits, which had been introduced by the Turkish government recently to battle fluctuation in currencies, dollarization and high inflation, show that “Turkish people have put their trust in Turkey’s new economic system” that prioritizes growth, production, exports and high employment.

The president also said that his government will take any other necessary steps to battle “unhealthy fluctuations in the value of foreign currencies.”

“Our citizens now have two assurances: one from the Turkish Central Bank and the other from the Treasury,” he said. “Therefore, there will be no loss for our citizens.”

“God willing, stabilization in the value of foreign currencies against the Turkish lira will be realized soon,” Erdogan added.

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