Turkey is banning the use of foreign currency in the country's property market in a new bid to support the ailing local currency. <br /> President Recep Tayyip Erdogan issued a decree on Thursday stating that sales contracts and rental agreements in foreign currency must be converted into lira within 30 days.<br />The move came as Turkey's central bank increased interest rates by a hefty six and a quarter percentage points to 24 percent in order to save the currency. <br />The lira has lost some 40 percent of its value against the dollar this year alone over concerns about Erdogan's influence on monetary policy and a diplomatic spat between Turkey and the United States.<br />
