OREANDA-NEWS. The exchange rate of the Turkish national currency jumped sharply against the US dollar and the euro after the President of the Republic Recep Tayyip Erdogan announced emergency government measures against the rapid fall of the lira, which had been going on for several weeks. On the evening of Monday, December 20, the lira exchange rate increased by 25 percent, on Tuesday morning the growth continued.

During 2021, the lira lost more than half of its value, a particularly sharp drop began in November, so that by December 20, the local currency fell to a historic low — the dollar had to pay up to 18.41 lira, and the euro — 20.74 lira. However, after the adoption of a government package of measures, which, in particular, involve the protection of the savings of the population from fluctuations in the exchange rate, the dollar cost 11.61 lira, and the euro — 13.85 lira.

According to the Turkish president, the government in Ankara will compensate the losses of holders of deposits in lira if the fall in the national currency exceeds the interest rates promised by banks.