Currency's poor performance is an issue in upcoming elections
ADVERTISEMENTTurkish President Recep Tayyip Erdogan has urged citizens to convert their dollar and euro savings into lira, in an attempt to sure up the foundering currency.
The Turkish lira has lost some 20% of its value this year, hit by investors' concern about the strengthening influence of Erdogan on monetary policy.
"We're aware of the game being played against us and we're fighting it with the tools we have in hand," Erdogan said. "Being a Turkish national means, you should first protect your own currency. Here is my request to my people. Do not believe in rumours and protect your own currency."
Shoppers and market traders are feeling the pinch from the decline in the currency and double-digit inflation. The ailing Turkish economy has emerged as a key issue as Turkey heads into presidential and parliamentary elections next month.