Erdogan: You hit our freedom, we'll answer.

The Turkish currency suffered a drastic decline as currently 13 lira is exchanged for a dollar, a drop of 15 percent.

We see the game of those as far as currency is concerned, interest and price hikes... and we show our will to continue with our game plan. From this war, we will come off victorious”, he said.

Turkey is facing its worst currency crisis from August 2018, when the value of the lira reached the lowest historical levels during a dispute with then president of the United States, Donald Trump.

The Turkish Central Bank recently underwent pressure from President Erdogan and lowered its rating from 16 per cent to 15 per cent, despite rising inflation and rapid currency devaluation.

Erdogan, an open opponent of high interest rates, has always built his popularity on a reputation for strong economic growth and improved household income throughout the country.

He is known for his strong belief that high interest rates cause inflation rather than help reduce it.