The Turkish lira has lost 80% of its value since 2008
The Turkish money is in deep trouble. It has lost 80% of its value against the US dollars since 2008. And 38% since the beginning of 2018.
Donald Trump wants the release of a detained American pastor. The American president has doubled US tariffs on Turkish steel and aluminium. Erdogan could face a new crisis situation in his country.
It just shows how those emerging economies are fragile considering their repentance on direct foreign investments. I think that now it can be seen real state of Turkish economy, as it is not any more fabricated by FDIs from US
I was in Instambul in 2013 and yes it was something like 2.15 or so. Imagine how prices for locals are now ? I can't even think about it how inflation ruins people lives. It's already like about 5 or so. I hope they do get indexing on their pensions and salaries otherwise it's a way to total poverty. But still possiblity to make money on Forex
Now during the covid, the currency situation is very unstable.
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