Turks exchanged $9 million into liras: Deputy PM

Turkish citizens have sold some $9 billion for Turkish Liras since the start of the military coup attempt on July 15, Deputy Prime Minister Mehmet Şimşek said during an interview with broadcaster CNN Türk on July 27, Daily Hurriyet News reports.

“Turkish citizens exchanged over $9 million into liras as of yesterday [July 26], which is of grave importance. When looking at the data, the loss of value for the Turkish Lira, the rise in the stock market and market risk premium, it can be seen that the foundations are secure and strong,” said Şimşek, while evaluating the possible impacts of the bloody attempt on the Turkish economy. 

“Foreign capital entries have begun, minor amounts went out and they continue to be drawn,” Şimşek added.

Şimşek also commented on an upcoming Turkey rating by Moody’s, after another agency, Standard and Poor’s, cut Turkey’s rating, triggering a wave of criticism by the government. 

“Moody’s is in Ankara today [July 27] and I will be meeting them. There’s no reasonable argument for Turkey’s rating to be downgraded,” he said.