The Turkish Lira dipped to a record low against the Euro, trading for a whopping 8,91 liras on the unit on Sept. 15, a new record following 8.89 liras on the unit on Sept. 14.
The seismic research vessel Oruç Reis is now parked inside the port of Antalya. The magic behind the rapprochement is named “Merkel” — but the recent spike of the Euro (and the U.S. dollar) vis-à-vis the Turkish lira may have to do with the sudden change of hearts in Ankara.
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).
A currency, that is losing value and is not the good money to its own citizens, cannot be the good money of another country. Most probably those who declared they have switched to the Turkish Lira in Syria will be doing their payments in Turkish Liras and - even if it may be only a few pennies - they will keep dollars to store the value of their accumulation.
Gold prices spiked April 13 as one gram of gold was priced at 367 Turkish Lira at the start of the day, and one ounce of gold was priced at 1686 lira.
Moody's revised its growth forecasts downward for 2020 amid the coronavirus pandemic. "We expect Turkey’s [B1 negative] economy to be hit the hardest, with a cumulative contraction in second- and third quarter GDP of about 7.0%. The shock will likely take a large toll on Turkey’s tourism-related sectors through the summer," it said in its Global Macro Outlook 2020-21.