The US has also been irritated by Turkey's decision to buy a Russian missile defence system earlier this year, while Ankara has hit out at Washington's backing of Kurdish rebels in Syria.
He also made his now famous speech on the night of the July 2016 failed coup calling citizens out into the street through Facetime, an iPhone app.
President Donald Trump and Turkish President Tayyip Erdoğan reportedly met on the sidelines of July's North Atlantic Treaty Organisation summit to cut a deal on prisoner releases - which would later become an economic disaster for the lira, and potentially the world.
Turkish Airlines and Turk Telekom said the advertising boycott would encompass all written, visual and social media, although existing agreements would not be affected.
The US Treasury Department on August 1 announced sanctions on Turkish Interior Minister Suleyman Soylu and Justice Minister Abdulhamit Gul. "Necessary instructions on the issue have been issued to our agencies", Yahya Ustun, spokesman for the country's flag-carrier, wrote on Twitter. 'What do you want to do? Trump's top national security aide warned Turkey's ambassador on Monday that the USA has nothing further to negotiate until Brunson is freed, according to two people familiar with the matter.
The drop of the Turkish lira is not all bad, Riza from Turkish exporting company Hatipoglu grinningly told FreshPlaza: We sell our produce for euros and United States dollars, so this drop doesnt really affect us in a negative way.
The lira started to stage a recovery on Tuesday following its dramatic two-day collapse. It was up 5 percent on Tuesday, at 6.55 per dollar, having fallen 42 percent so far this year, with most of those losses coming in recent weeks. The first is Erdogan's strong belief that the higher interest rates that the International Monetary Fund is nearly certain to demand as a condition for an International Monetary Fund loan would be a cause of inflation rather than a cure of Turkey's economic imbalances.
On Monday, the Turkish central bank introduced several measures to help, including cutting the reserves that banks are required to hold at the central bank, thereby freeing up money for lending.
Turkey is increasing tariffs on imports of United States products, escalating a feud that has also triggered a currency crisis.
A weak lira makes life more expensive for people in Turkey by making imports more expensive.
However, other countries - such as Mexico and South Africa - also took advantage of low U.S. interest rates in the years after the financial crisis to borrow heavily in dollars and saw their currencies coming under pressure.
Mr Erdogan has presided over soaring inflation and borrowing levels, but insists the lira's plight is the result of a "campaign" led by foreign powers.