The depreciation of the Turkish lira (TL) has peaked in the last few months.
While the Turkish Lira depreciated by more than 100 percent, the dollar, which was at the level of 7.44 TL at the beginning of 2021, rose to 17.75 TL yesterday.
While the euro was at the level of 9.09 TL at the beginning of 2021, it exceeded the level of 20 TL on 20 December.
While the economic crisis and the exchange rate increases, which caused the phrase "our money has become like a stamp", are melting the TL, the purchasing power of the citizens is decreasing day by day.
Seeing the lowest levels in its history, the TL has lost more than 100 percent against the dollar and Euro since the beginning of the year.
As such, the sum of all banknotes and cents in circulation in TL terms is only 28 dollars.
The exchange rate, which affects the lives of citizens, tradesmen, civil servants, retirees and minimum wage earners, has also disrupted the psychology of the people of the country in recent years.
THE EXCHANGE RATE HAS BEEN A DISASTER FOR TURKEY IN RECENT YEARS
The fluctuations in the foreign currency and the depreciation of the TL deteriorated the economic balance of the whole of Turkey, but mostly reduced the purchasing power of the households.
In the Turkish economy, which relies on imports in many products from kitchen to clothing, fuel oil to housing prices, raw materials to agricultural products and production, the fluctuations in exchange rates have also had a heavy impact on citizens.