ISTANBUL Dec 9 President Tayyip Erdogan called
on Turks on Friday to step up their sales of foreign currency to
buy lira, saying their efforts so far to defend the Turkish
currency from sharp falls were insufficient.
In November, the lira saw its worst monthly performance
since the 2008 financial crisis, hit by the surging dollar and
concerns about political stability after a failed July coup.
Erdogan last week urged Turks to sell forex and buy lira.
Speaking to reporters after Friday prayers, he said he
expected the government and central bank to be more sensitive
about interest rates in the coming period and asked citizens not
to give credence to the "interest rate lobby".
The Turkish leader has used the term "interest rate lobby"
in the past to refer to international speculators who he says
are making quick profits from high interest rates at the expense
of Turkey's economic health.
(Reporting by Daren Butler and Ece Toksabay; Writing by Humeyra
Pamuk; Editing by Nick Tattersall)