HEADİNG POLITICS

Turkey president hints at move to stop lira slide

Turkey president hints at move to stop lira slide
At one point, the dollar was buying as many as 2.64 Turkish liras on Friday, an all-time record.

Turkey’s President Recep Tayyip Erdogan signaled Saturday that the government would take necessary steps next week to stop the slide of Turkish lira against the U.S. dollar.

“Next week, we are going to do what it takes,” he said in southeastern Gaziantep province.

He warned against investing in U.S. dollar, saying: “Do not think you can get rich converting Turkish liras to U.S. dollar. If you did — you did wrong, you hit the wall.”

The Turkish president repeated his criticism over the Turkish central bank’s interest rate policy.

“Some want to create dollar-rich people,” he said.

At one point, the dollar was buying as many as 2.64 Turkish liras on Friday, an all-time record.

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