Turkish President Recep Tayyip Erdogan has advised his countrymen to convert savings held in the US and EU money into the national currency, the lira, after it lost 20 percent of its value.

“My brothers who have dollars under their pillows, go and invest your money in the lira. We will foil this plan all together,” he said, as quoted by local media.

“Hey, finance sector, if you play these types of games with our investors, know that you will pay a heavy price!” The remark was made during a campaign event in eastern Turkey ahead of the snap parliamentary and presidential elections in June.