The Turkish lira gained traction on Tuesday after President Recep Tayyip Erdogan’s government announced a number of measures to safeguard deposits in the national currency against currency fluctuations. The lira hit an all-time low of 18.36 against the U.S. dollar on Monday following weeks of volatility. But on Tuesday morning, it rebounded to a high of 11.09. It was trading at 12.80 at 10:54 GMT Tuesday. In a speech late on Monday, Erdogan introduced a series of measures aimed at protecting Turks from the high cost of living and easing the burden of the weakened currency while encouraging them to hold savings in lira as opposed to foreign currency. The government will pay the difference between the value of savings in lira and equivalent dollar deposits, should its decline against the currency exceed interest rates promised by banks, Erdogan said. Foreign currencies held by households in Turkish banks from Dec. 3 to Dec.10 rose by roughly $673.16 million according to …