Turkey's stock exchange decided Friday to convert all of its cash assets into Turkish lira following President Recep Tayyip Erdogan's call to support the declining Turkish currency against the US dollar.
All of the cash assets will be kept in lira accounts, Borsa Istanbul said in a statement.
The U.S. dollar/Turkish lira exchange rate went up to stand on Friday, compared to 3.4860 at Thursday's close.
Earlier on Friday, Erdogan called on Turkish citizens to convert their foreign exchange savings into lira and gold to help boost the value of the local currency.