Fall of Turkish national currency stops – President Erdogan

The Turkish lira has stopped falling and may soon strengthen.

As TRT Haber reports, Erdogan told reporters this after his visit to Algeria.

According to the Turkish leader, the lira's decline has ended and there is now a high probability that the currency will strengthen against the dollar.

Erdogan paid a one-day visit to the capital Algiers to meet with his Algerian counterpart Abdelmadjid Tebboune and to attend the second meeting of the Türkiye-Algeria High-Level Cooperation Council, where the presidents also discussed Israel’s ongoing attacks on Gaza.

Türkiye and Algeria maintain full coordination in resolving Palestinian and regional issues.

On November 9, Turkish media quoted Türkiye's ambassador to Algeria Mucahit Kucukyilmaz as saying that many steps need to be taken between Ankara and Algiers, amid the high potential of both nations, especially in the economic fields.

Turkish investments in Algeria topped $6 billion, and trade volume between them reached $5.3 billion in 2022, said the ambassador, expecting it to exceed $6 billion this year.

The two countries' leadership plans to increase trade volume to over $10 billion.