Turkish President Recep Tayyip Erdogan announced that the Turkish lira recently recorded a rise of 12% against the dollar and 10% against the euro.
This came in a speech to the members of the Board of Directors of the Turkish Foreign Economic Relations Authority, on Friday, in Istanbul.
The exchange rate of the dollar was 7.37 against the Turkish lira, while the value of the euro was 8.95, in Friday's trading.
He indicated that Turkey continues to strive to develop the customs union agreement with Europe, expressing his confidence that progress will be made in this regard during the current year.
He expressed Turkey's need for a new leap in commercial diplomacy, stressing that Ankara is aware of the importance of production, research and development, export, trade, the diversity of markets and products, as well as the health sector infrastructure during the Corona pandemic.
Erdogan added, "With the increase in vaccination against Corona and the decrease in the spread of the epidemic, the momentum achieved by Turkey will increase, and as happened during the period of the epidemic, the world will continue to talk about Turkey's successes after it."
He explained that the Corona pandemic has opened new doors for the business world in Turkey, despite the difficulties that accompanied it.
He pointed out that Turkey has succeeded in maintaining the level of positive growth against the expected significant decline in global trade and growth, indicating that the great performance in exports in particular had a major role in this success.
Record numbers
Erdogan indicated that Turkey's exports during the last month of last year broke all previous records, in addition to recording exports worth $ 51.2 billion in the last quarter of it.
He stressed that Turkey will enter the post-Corona phase as a competitive and strong global player, adding, "We will support combating the effects of the epidemic through the steps that we will take in the macroeconomic and financial sphere."
He revealed that Turkey's share of global exports between January and October last year for the first time exceeded 1%, recording 1.03%, and that the number of exporting companies in Turkey reached 87,400.
He stressed that the free trade agreement signed with Britain at the end of last year is considered the most important of its kind after the customs union, and will ensure the continuity and expansion of trade relations with the United Kingdom after the latter's exit from the European Union, "Brexit".
Erdogan pointed out that the economies, on top of which are global trade, capital flows, investments and tourism, have witnessed a historic contraction during the last global epidemic, indicating that the ambiguity about the course of the epidemic makes the coming period more difficult for the global economy.
"In such circumstances, Turkey has taken quick measures that support the economy and social structure thanks to the advantages provided by the presidential system, and has shown everyone that it is ready for any difficulties, new opportunities or different scenarios," he said.
Erdogan stressed that the effects of the steps taken within the framework of the free market economy have begun to reflect positively on the financial market indicators.
And he continued, "Looking at foreign exchange rates, we see that the Turkish lira recorded a rise of 12% against the dollar and 10% against the euro."
The interest of foreign investors
"The increase in the value of our currency and the decline in gold prices have contributed to reducing the central administration's debt since last November by about 150 billion liras (one dollar equals about 7.35 liras)," Erdogan said.
Erdogan also explained that foreign investors' interest in Turkish assets began to increase, noting that the inflows of foreign portfolios into Turkey exceeded $ 15 billion in recent months.
He stressed that investors confident in Turkey will continue to profit later as it was in the past, indicating that the government aims to make the economy have a sustainable and high-quality structure in the long term.