ANKARA， Dec. 7 (Xinhua) -- As the Turkish lira plunges to a record low， Turkey has made a series of lira-based decisions to convert their foreign exchange into local currency.


The Turkish lira fell 17 percent since 2016， making it this year's worst performing emerging market currency. The lira reached a historic low of 3.60 versus the U.S. dollar on Dec. 2.


Turkey's economic activity has been recovering in the last quarter of 2016， while fluctuations in the Turkish lira will not make a "durable" impact on the economy， according to Central Bank Governor Murat Cetinkaya.


Yet， Turkish President Recep Tayyip Erdogan Monday called on citizens to turn their foreign currencies into liras or gold. He also vowed to allow commerce with China， Russia and Iran to be conducted in local currencies as part of measures to shore up the tumbling currency.


"If we buy something from foreign countries， we will do that in their currency; if they buy something from us， they will do it in our currency，" he said.


As a first step， the Turkish government announced that accommodation expenses and other expenditures of a Turkish delegation to Russian on Monday， chaired by Prime Minister Binali Yildirim， would be paid in the Russian ruble.


The country's main stock exchange， Borsa Istanbul， was the first institution that converted all its cash assets into lira， a few hours after the president's remarks on Monday.


Turkey's Directorate of Religious Affairs stated that hajj and Umrah visits would be charged in liras in order to support the lira amid its sharp deterioration in value.


Turkish media reported some small and medium-sized enterprises across the country heeded their president's call， offering free haircuts， food and grave stones to those who could prove they converted foreign currency into the lira.


The Turkish Privatization Authority announced privatization tenders would be held on a Turkish Lira basis.


On Wednesday， Turkey's Defense Ministry announced that it converted 262.7 million U.S. dollar and 31.3 million euros to lira from the defense industry support fund. The same day， the energy market regulatory authority decided to hold natural gas distribution tenders in Turkish Lira.


Furthermore， all telecommunications operators announced that they would make the last payment for the advanced 4G technologies in liras. As a result， they will pay the installment valued at 657 million euros in lira in April 2017.


On Nov. 24， the Central Bank's Monetary Policy Committee used its rate-hike weapon with an unexpected hike of 50 basis points in its policy rate， despite President Erdogan's push to lower interest rates.


Presidential spokesman Ibrahim Kalin said Turkish citizens will protect Turkey's economy and "national values."


But the move had slight impact to the dollar since the same day the European Parliament released a decision asking Brussels to freeze membership talks， sending it to a record high of 3.47 Turkish liras.


Erdogan argues low interest rates would attract investors to the country， which would also contribute to the economic growth.


The upcoming weeks will be crucial for Turkish lira ahead of a key FED meeting on Dec. 14. Domestic developments in the country， such as constitutional amendment moves， fluctuate the lira as well， local economists said.


Border residents concerned about possible nuclear test

Photo: CGTN

Chinese President Xi Jinping and his US counterpart Donald Trump on Monday discussed bilateral ties and the situation on the Korean Peninsula over the phone Nike VaporMax UK Sale , promising close contact to allow for the prompt exchange of views on major issues of mutual concern.


China strongly opposes actions that violate United Nations Security Council resolutions, Xi said, adding that China hopes the parties concerned will exercise restraint and avoid actions that aggravate tensions on the peninsula, the Xinhua News Agency reported.


It was the second phone conversation between the presidents since Xi visited Trump in Florida on April 6.


Xi noted that if the parties shoulder their responsibilities and meet each other halfway, they can solve North Korea's nuclear issue and achieve denuclearization, according to Xinhua.


Tensions on the Korean Peninsula are mounting, with South Korean and US media reporting that North Korea is preparing its sixth nuclear test on Tuesday, the 85th anniversary of the founding of its military.


North Korea has reportedly evacuated citizens living near the Punggye-ri nuclear test site, where it conducted the fifth nuclear test in September 2016.


South Korea's Yonhap News Agency reported Sunday that the UN Security Council will hold meetings on the North Korean nuclear issue on Friday, which may be North Korea's excuse for its latest provocation.


Normal life


Amid tensions, life in Chinese cities bordering North Korea has been going on as normal, though residents expressed concerns about what will happen next on the peninsula.


A resident of Yanji, Northeast China's Jilin Province, surnamed Guo told the Global Times that she is worried about reports of upcoming nuclear tests.


Yanji is the capital of the Yanbian Korean Autonomous Prefecture and is located just 10 kilometers from the border of China and North Korea.


"We felt the earth shake during North Korea's last nuclear test, and it plans to soon test again? Seniors and children will panic," said Guo.


The Punggye-ri nuclear test site is roughly 100 kilometers from Chinese border cities, including Yanji and Tumen in Jilin Province, which experienced seismic activity during the fifth test.


A primary school in Yanji evacuated its students after the September 2016 test, news portal sohu reported.


A resident of Dandong, Northeast China's Liaoning Province, which is also near the North Korean border, told the Global T. Wholesale Jerseys Wholesale Jerseys China Wholesale Custom Jerseys Wholesale College Jerseys China Soccer Jerseys China Adidas NHL Jerseys Cheap Baseball Jerseys Free Shipping Hockey Jerseys From China Authentic Jerseys Cheap Football Jerseys Online