REUTERS - Turkey is
taking steps to allow commerce with China, Russia and Iran to be conducted in
local currencies, President Tayyip Erdogan said on Sunday, the
government's
latest effort to shore up the tumbling lira.
In a speech to
flag-waving crowds in the central city of Kayseri, Erdogan also said that Prime
Minister Binali Yildirim would bring up the issue with Moscow during a
forthcoming trip to Russia.
Erdogan has
called on Turks to cash in their foreign exchange holdings and buy lira to stem
the Turkish currency's decline. The lira has lost a fifth of its value this
year, hit by a resurgent dollar and widening concern about a crackdown
following the July 15 failed coup.
(This story
corrects name of Turkish president in headline)
REUTERS
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