While the economy is struggling with high debt and inflation, the increase in exchange rates has also increased. While the TL depreciates a little more each day, the external debt is also "in the place where it stops". Turkey's gross external debt of around 466 billion dollars, just "set-aware" year due to increased approximately 770 billion pounds since the beginning.
As a result of the preliminary agreement reached after the Pastor Brunson crisis with the United States, the Turkish delegation to the US made talks in Washington. The absence of any signs of any concrete progress in these talks led to an increase in tensions in the market. The dollar, which started at the 6.30 level in the day, rose to 5.50, while the euro exceeded 6.34 and broke a record.
After the talks between the Turkish and US delegations, the statement from the US Foreign Ministry spokesman said that the talks continued and a number of issues related to bilateral relations, including Brunson, were addressed. In the coming statement by Turkey it was said to be committed to the US release of Brunson. Following this announcement, losses in the TL have deepened.
Dollar/TL which was around 5.30 at the closing hours of the previous evening, came to 5.50 level with the increase exceeding 3 percent yesterday morning. The euro peaked at 6.34. On the other hand, the British Sterlini went up to 7.0079 and broke a record.
The figures in this photo taken yesterday are already outdated ... Depreciation in TL continued without slowing down ...
The rise in the exchange rate, the devaluation of the TL, comes from the pool media ignoring "whatever". The media that delivers the devaluation of the economy due to wrong economic policies and global developments to the citizen with arguments such as "foreign exchange lobby" pays the approach of "what happens to the dollar, what happens to the dollar". However, the beginning of 2018 at the beginning of 3.75 pounds in the dollar, today reached 5.40 pounds.
The depreciation of the TL against the dollar since the beginning of the year was 46 percent. TL has also disguised the title of "the most depreciating currency" in developing countries' money. imports of raw materials needed in manufacturing and supplying that energy imports in the slightest increase in foreign currency in foreign currency for Turkey, it means more money out of our pocket.