Turkey wants trade with Russia, China in local currencies

Source:AFP Published: 2016/12/4 23:58:40

Turkish President Recep Tayyip Erdogan said his country was moving toward allowing trade with Russia, China and Iran to be conducted in local currencies, as he continues his efforts to strengthen the falling lira.

"We are taking steps towards trading with Russia, China and Iran with local currencies," he said, ahead of a trip by Turkish Prime Minister Binali Yildirim to Russia for meetings on Tuesday.

"If we buy something from them, we will use their money, if they buy something from us, they will use our currency," Erdogan explained.

He added that instructions related to this proposal had been given to the central bank and previously said that discussions were underway with Moscow, Beijing and Tehran on the issue.

Erdogan repeated a call for Turks to convert the euros, dollars and other foreign currency "under their pillows" into Turkish lira during a speech in the central city of Kayseri.

"Our Turkish lira is blessed," he told a cheering, flag-waving crowd.

Praising Turks for heeding his words, he said, "My people began to change whatever they found under their pillow within three or four days."

Posted in: EUROPE

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