The problems that cannot be solved like inflation and unemployment are the soft belly of the economy. The troubled period in the economy, which has been going on for the last few years, has increased both the cost of living and the livelihood. According to the data, the hunger limit of a family of 4 exceeds the minimum wage of 2,304 Turkish Liras, which shows the magnitude of the problem for millions of people. The 10.94 percent inflation data announced by TURKSTAT does not match the data of the street. According to the official figures, it is seen that the unemployment table will become much heavier when the unemployed people reaching 4.5 million and those who are unemployed during the epidemic period are added.
The dollar broke a record! We hope that the end of this road will not reach the IMF.
The depreciation of the Turkish Lira against the dollar and the euro continued yesterday, with "anxiety of outsourcing". The dollar, which rose to 7.24 liras in August 2018, rose to 7.27 liras yesterday and reached the highest level of all time. The euro also rose to 7.84. The dollar was later relaxed to 7,09, but was later balanced around 7,10.
Concerns about the reserves of the Central Bank and the uncertainty of foreign currency supply via swap caused TL to continue to depreciate against the dollar and the euro.
The dollar, which rose above 7.99 by exceeding the 6.99 level that it has not been able to exceed for a while last week, continued its rapid rise this week yesterday. The dollar gained about 1 percent yesterday and reached the level of 7.27. Thus, the dollar rose to an all-time high. The currency last saw its peak at 7.24 in August 2018.
The dollar, which followed a fluctuating course during the day, loosened up to 7.09 sometime after breaking the record, but was later balanced around 7.20.
The euro, which started the day at 7.80, fell to 7.67 after seeing the summit with 7.84. The euro also recovered and went up to 7.78.
GRAM GOLD NEARS TO 400 LIRAS
The gram gold, which continued its rise this week, has renewed its record with 393.03 liras on May 6 with 395 liras today. The price of quarter gold rose to 648 pounds with the gram gold gaining around 1.2 percent.
INFLATION AND UNEMPLOYMENT HURTS AGAIN
Center's gross reserve falls to $ 51.4 billion
As of April 30, the gross foreign exchange reserve of the Central Bank decreased by $ 1.2 billion compared to the previous week to $ 51.4 billion, while the total reserves, including gold, were $ 86.2 billion.
Central Bank of the Republic of Turkey (TCMB) total reserves declined by $ 204 million last week fell to 86 billion 243 million dollars.
According to the money bank statistics announced weekly by the Central Bank, gross foreign exchange reserves, which were 52 billion 661 million dollars in the week of April 24, fell to 51 billion 457 million dollars in the week ending April 30. The gold reserves of the Central Bank, which was 33 billion 786 million dollars in the previous week, increased by 1 billion dollars to 34 billion 786 million dollars. Gross foreign exchange reserves were at the level of 81 billion 240 million dollars by the end of 2019.