September 13, 2018 / 9:19 AM / 9 days ago

Erdogan says Turkey to take new measures on lira weakness

ANKARA (Reuters) - Turkey will take new measures to deal with a slide in the lira and will not refrain from “difficult” steps while remaining within free market economy rules, President Tayyip Erdogan said on Thursday.

Turkish lira banknotes are seen in this picture illustration taken in Istanbul October 18, 2011. REUTERS/Murad Sezer

In a speech to a traders’ confederation in Ankara, Erdogan said nobody should carry out business in foreign currency apart from exporters and importers. Earlier on Thursday he ruled that property sales and rental agreements must be made in lira, putting an end to such deals in foreign currencies.

Reporting by Ece Toksabay and Tuvan Gumrukcu, Writing by Daren Butler; Editing by Dominic Evans

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