Erdogan invited Putin to move to settlements in national currencies

Эрдоган предложил Путину перейти на расчеты в национальных валютах

Ankara offered Moscow to move in trade between the two countries to payments in national currencies, said Saturday Turkey’s President Tayyip Erdogan.

Over the past month the Turkish Lira fell against the dollar by more than 11%. On Friday, the Lira exchange rate to US dollar fell to historic lows, reaching 3.54 Lira per dollar.

“I suggested that (Russian President Vladimir) Putin’s next: let’s get our trade on the local currency. For everything I buy from you, I’ll pay in rubles, and for everything you buy from me you will pay in Turkish liras,” said Erdogan, speaking at the opening ceremony of a Mall in Istanbul on Saturday.

He added that the move to trade national currencies Turkey also proposed that China and Iran, and this proposal was accepted by them. “We gave the relevant instruction to our Central banks, will try to translate (foreign) relations on this path,” Erdogan said.

The President again called on Turkish citizens to convert their currency savings into gold or Turkish Lira, as the currency is leverage. “Why do we have to turn their savings into a means of pressure? Those who hold foreign currency under the mattress, have to convert it into Lira or gold. Let’s support national values. This will be the answer to those who are trying to exert pressure on Turkey. Don’t worry, you will not suffer losses,” added Erdogan.

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