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Turkish lira collapses to new low
[ENGLISH.ALARABIYA.NET] The Ottoman Turkish lira hit new lows on Thursday as The Sick Man of Europe Turkey
...the decaying remnant of the Ottoman Empire...
 continues to face economic uncertainty with the lira continuing to fall and inflation rising.With a continued lack of foreign investment and tourism levels down due to the COVID-19 pandemic, Ottoman Turkish citizens are feeling the pain of the economic turmoil that threatens the country. In just two weeks, the lira went from around 6.80 to $1 at its lowest point to over 7.20 in the first week of August.

Ismail Berker Beysel, an undergraduate student and an IT analyst intern, has noticed the rise in prices lately. While the extent of the increase varies from product to product, he noted that there was a large increase overall.

"I had to make some adjustments to my shopping routines," he told Al Arabiya English. "But nothing too major. I canceled some of my online subscriptions because of increasing foreign currencies. Also, I focused on investments and savings to plan ahead."




Posted by: Fred 2020-08-09
http://www.rantburg.com/poparticle.php?ID=579143