The lira has fallen nearly 30 per cent so far this month on concerns about President Tayyip Erdogan's reluctance to raise interest rates despite rising inflation and a deepening diplomatic rift with the United States.
The lira has lost about 40 percent of its value this year, largely over worries about Erdogan's influence over the economy, his repeated calls for lower interest rates in the face of high inflation, and worsening ties with the U.S.
The dispute has severely hit the Turkish currency which has been in the free fall since Friday. The European Central Bank has expressed concern about potential contagion through the eurozone banking system, with Spain, followed by Italy, the most heavily exposed countries.
On August 4 Erdogan says Ankara will freeze the assets in Turkey of the USA ministers of "justice and interior".
"We, as the Turkish Airlines, stand by our state and our people".
Mr Erdoğan used the speech to announce a trade boycott of electronic products from the US.
Unfazed by Turkey's escalating economic turmoil, Erdoğan suggested he would snub US-made iPhones in favour of other mobile brands produced domestically or in other countries.
Turkish President Recep Tayyip Erdogan has denounced the Lira crisis as a "plot against Turkey", warning that his country will forge new alliances and markets in response to a bitter rift with long-time ally the United States, which has caused the Turkish currency to hit record lows.
"But there will be a price [which] those who're waging an economic warfare against Turkey will also pay".
"If we postpone our investments, if we convert our currency to foreign exchange because there's danger, then we will have given into the enemy", he said.
Iran's supreme leader says no war or talks with U.S.
Iran's supreme leader Ayatollah Ali Khamenei said Monday that there would be neither war nor negotiations with the United States.
On Monday, the central bank announced a series of measures to "provide all the liquidity the banks need" - but offered no hint of a rate increase. Turkey's most significant trading partner is Germany.
The Turkish president's standoff with Trump has fuelled concerns of a foreign policy shift that would result in Turkey leaving North Atlantic Treaty Organisation, forging stronger political links with Russia, China and Iran, and allowing the three million Syrian refugees living in Turkey to leave for the EU.
The dispute between the two North Atlantic Treaty Organisation allies - which reached new intensity over the detention of an American pastor in Turkey - has hammered the lira and also raised questions over the future partnership between Washington and Ankara.
Turkey and the US have been at odds over a wide range of topics - from diverging interests in Syria, to Turkey's ambition to buy Russian defense systems, and the case of evangelical pastor Andrew Brunson, who is on trial in Turkey on terrorism charges. The pastor's Turkish lawyer launched a fresh appeal on Tuesday for his release.
He also rejected calls to switch to foreign currencies which he insisted was not in the Turkish nation's character and said would be "giving in to the enemy".
"I believe that would help to facilitate a solution, including to the economic problems", Maas said.
The Post Office said sales of lira in the past week were three times higher than a year ago.
Overnight, U.S. Treasury 10-year yields also dipped to the lowest in just over three weeks at 2.85 percent.
Following Monday's meeting between Bolton and Turkish ambassador Serdar Kilic, U.S. officials have given no indication that the United States has been prepared to give ground in the standoff between the two countries' leaders.
He had been in jail for nearly 20 months when a court in July ordered him moved to house arrest.