3 minutes agoFalling Turkish liras, panic citizens become long queues for buying bread at cheaper stores
Periskopi(5 years ago)
(5 years ago)Turkish lira is at the lowest point in terms of dollars and euros in recent weeks. The dramatic release of the lira has caused panic among Turks. With inflation nearly 20 percent of food prices flown, and it is not known when the situation will stabilise. Long human expectations for him [...]
Turkish lira is at the lowest point in terms of dollars and euros in recent weeks. The dramatic release of the lira has caused panic among Turks. With inflation nearly 20 percent of food prices flown, and it is not known when the situation will stabilise.
People's long expectations of buying bread at cheaper stores are common views in recent weeks.
The independent group for inflation research, composed of academics and former government officials, has indicated that inflation in Turkey has reached 50 per cent.
Turks are starting to exchange their savings into foreign and gold currencies to protect themselves from high inflation as foreign investors are starting to abandon Turkey's assets.
The loss of the value of the lira has started when President Recep Tayip Erdogan insisted on the policy criticised to lower interest rates, as well as why prices were rising, making it difficult for Turks who are barely finding bread.
Turkish lira has lost its value up to 40 percent since the beginning of the year and is one of the worst coins in the world.
