The recent introduction of the Turkish Lira in towns of northern Syrian constitutes the final step in an assimilation policy enforced by Ankara in the region, journalist and Middle East expert Bereket Kar said. Reports have shown that cash and coins were brought in through the Turkish postal service (PTT).
Turkey's private sector held $177.6 billion in foreign debt as of March this year, according to the most recent figures from Turkey's Central Bank. 61.8% of this debt was denominated in dollars and 33.5% in euros, while only 3% was held in Turkish lira.
Since the COVID-19 crisis erupted, Turkish Central Bank’s reserves fell nearly 20 billion dollars. Now, the thought of “Can there be a swap line opened from the U.S. Central Bank Fedreserve ?” is in question.