Turkey's Erdogan says lira volatility will settle

Turkish President Tayyip Erdogan said on Friday that exchange rates and gold prices will settle at their right levels and that volatility is temporary, after the lira plunged to record lows on two consecutive days.

Speaking to reporters after Friday prayers, Erdogan said the main problem for the economy was the coronavirus outbreak, adding that world economies had "zig-zagged" due to the pandemic.

He said Turkey's GDP and other indicators such as car and home furniture sales and foreign exchange reserves had increased since he came to power in 2002. "Turkey is climbing, but there are those who don't want to see this climb," he said, adding that no one should try to fool people regarding the economy.