"Foiling the plot" here refers to what Turkey perceived as plots by other countries and their local collaborators to weaken the Turkish lira. President Erdoğan said on Friday that Turkey would "foil the tricks of some forces" to drive Turkey into a financial crisis as he urged citizens to reach for their mattress savings to convert any foreign currency they had stashed away into Turkish lira and/or gold, while he also urged banks to cut interest rates. Erdoğan stated that volatility due to the rising value of foreign currency would not have a negative impact on the economy, which is "now threefold richer than it was 14 years ago," when the ruling Justice and Development Party (AK Party) first came to power.Turkish lira floated at around 3.5 against the dollar before markets closed on Friday and was steady on that rate shortly after Erdoğan's speech that helped a decrease.
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