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    Turkish liras

    Turkey to Use Only National Currency in Gas Tenders - Energy Market Regulator

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    Turkish companies will use only Turkish liras in the gas tenders, Turkey's Energy Market Regulatory Authority (EMRA) said Wednesday.

    ANKARA (Sputnik) — The EMRA said in a statement that the country's entities would be obliged to use only the national currency in tenders on the distribution of natural gas.

    On Monday, the Turkish Privatization Authority (OIB) made the similar decision about the tenders in its competence. Earlier on Tuesday, Turkey’s Defense Industry Support Fund converted its cash assets into liras.

    These decisions come after Turkish lira lost more than 11 percent to the US dollar. Last week, lira’s rate to dollar reached historical minimum of 3.54 lira per dollar. Turkish President Recep Tayyip Erdogan called on the nation to sell foreign currency in order to support lira.

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