The economic policy of the king of the ottoman empire

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Published at : December 23, 2021
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The Turkish lira rocketed off record lows on Tuesday after President Recep Tayyip Erdogan announced new measures to safeguard local currency deposits against severe market volatility.

In a speech late on Monday, Erdogan said if lira losses against foreign currencies exceed banks’ interest rates, the government will cover those losses for lira deposit holders.

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