Erdogan has prohibited to buy property for the currency

Эрдоган запретил покупать недвижимость за валюту

All contracts will be transferred in the national currency – the Turkish Lira. The conversion will hold for 30 days.

The President of Turkey Recep Tayyip Erdogan signed a decree according to which all leases and documents for the sale of real estate, prisoners in a foreign currency will be converted to Turkish Lira.

The text of the decree published in the official Gazette of the Turkish government – Resmı Gazete, according to Anadolu on Thursday, September 13.

At the conclusion of contracts of purchase and sale, rental, leasing of movable and immovable property between residents in Turkey payment obligations of the parties will not be installed or indexed in foreign currency, – stated in the message.

According to the decree, the recalculation will be made within 30 days.

Earlier, Erdogan called on Turkish citizens to exchange dollars and euros for Lira. The President stated this over neobhodimosti to strengthen the national currency that have fallen sharply amid concerns about the economy and the deterioration of relations with the United States.

We will remind, today the Central Bank of Turkey raised its key interest rate by 6.25% from 17.75% to 24%. Before the meeting of the regulator Erdogan called the rate of 17.75% is too high and encouraged to reduce it.

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