Local traders and assembly members in Azaz district of northwestern Syria have decided to launch a campaign to support Turkish currency.
Ibrahim Dirbale, head of Azaz local assembly’s trade bureau, told Anadolu Agency on Tuesday they had decided to support the Turkish lira as a return of favor to Turkey's humanitarian support to Syrian civilians.
According to the campaign, they will encourage tradesmen in the area to exchange their foreign currency into the lira.
"We have conveyed our decision to all the businessmen, merchants and other institutions in the region. Turkey has been providing all kind of support in past seven years by standing on our side. Now, it is our duty to stand next to Turkey in its difficult period. We encouraged businessmen to trade in Turkish lira,” Dirbale said.
In its social media account, the Azaz local assembly, also shared a similar statement calling on the tradesmen in the district to change their currencies into Turkish lira as a return of favor.
In recent months, the Turkish lira has been losing ground to the U.S. dollar. The USD/TRY rate has risen nearly 20 percent since the beginning of this year.
Last week, the U.S. dollar/Turkish lira exchange rate hit a historic high of around 4.93, versus 3.78 at the beginning of 2018, while last year's average rate was 3.65.