Without naming any country, Erdogan said that those - who stand against Turkey for the sake of small calculations - would pay the price.
"The traditional solutions as interest rates' hikes will not tackle this issue", Abu Basha explained, saying that the tLira's plummet has a very deep geopolitical dimension, which caused the Turkish currency to lose about 50% of its value in 2018.
President Tayyip Erdogan told Turks on Friday to sell their gold and US dollars to support the country's currency which plunged after US President Donald Trump escalated a feud with North Atlantic Treaty Organisation ally Turkey by doubling tariffs on metals imports.
Ties between Turkey and the USA started breaking down after a coup attempt in July 15, 2016, allegedly staged by Pastor Fethullah Gulen, who now lives in the United States under protection of the government as a U.S. citizen.
On Thursday Ergodan said Turkey will withstand the economic pressure. "You are exchanging your strategic partner in North Atlantic Treaty Organisation for a priest". "You are trading a strategic North Atlantic Treaty Organisation ally for a pastor", Erdogan said Saturday. decision to sanction Turkey for its imprisonment of an American priest.
But investors are concerned about the country's monetary policy. "Immediately give these to the banks and convert to Turkish lira and by doing this, we fight this war of independence and the future", he said.
"If they have their dollar, we have the people, we have Allah", he said, appealing to his religious Muslim base.More news: Baker Mayfield completes first TD pass of pro career
More news: Wake Forest assistant basketball coach charged with assaulting tourist
More news: Twitter is not banning Alex Jones; Jack Dorsey explains why
Speaking to supporters in Trabzon on the Black Sea coast, Mr. Erdogan dismissed suggestions that Turkey was in a financial crisis such as those seen in Asia two decades ago, dampening expectations of a rate increase to support the currency.
"We know very well that the issue is not the dollar, the euro or gold".
"Turkey expects other member countries to abide by global rules", the country's trade ministry said in a statement. Since then, U.S. President Donald Trump and Vice-President Mike Pence have called for his release, while Ankara says the decision is up to the courts.
In a Friday opinion piece for the New York Times, though, he used a milder tone to restore ties before it is too late, reminding of long-standing relations the U.S. established with Turkey over half a century ago upon its accession into North Atlantic Treaty Organisation.
The new duties on Turkey are double the level Mr Trump imposed in March on steel and aluminium imports from a range of countries.
Erdogan blamed his country's economic downturn on the USA and other nations that he claims are waging "war" against his country.
Washington also sanctioned Interior Minister Süleyman Soylu and Justice Minister Abdulhamit Gül on the Brunson case - a move reciprocated by Turkey, who in retaliation, would freeze the assets of U.S. Attorney General Jeff Sessions and U.S. Secretary of the Interior Ryan Zinke.