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Turks find solace in hard currency after the loss of value of Turkish currency

with The share of foreign-currency savings in Turkey has increased up to 49.4 percent, as the central bank of the country will be announced. Turkish savers are

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Turks find solace in hard currency after the loss of value of Turkish currency

with The share of foreign-currency savings in Turkey has increased up to 49.4 percent, as the central bank of the country will be announced. Turkish savers are reacting to the erratic exchange rate of the Turkish lira during the past week. The currency gained on Friday to a new record low against both the dollar and the euro.

The lira has been made on Thursday in a nose-dive and reached a new low. The Turkish currency this year against the us dollar and the euro, respectively, 20% and 30% of its value is lost.

On social media, then you are called for the resignation of the minister of Finance, Berat Albayrak, the son-in-law of president Recep Tayyip Erdoğan, where the president and some of his ministers, and their support for the Albayrak a statement.

Erdogan said Friday that Turkey is better now than it was on Thursday, and that economic fluctuations are due to the coronacrisis from anywhere in the world. "Turkey is on an economic rise, but some people refuse to see it," said the president. "The fall of the lira is temporary in nature."

Turkey is also struggling with a budget deficit of

and There are big concerns about the reserves of the central bank, which, in the past few months, tens of billions of dollars to be sold to the exchange rate of the lira to remain stable. The reserves have been exhausted.

in Addition, it is struggling in Turkey with a persistent inflation rate of about 12 per cent, making a rate increase likely. History is, however, a major opponent of high interest rates and, as a consequence of the fact that the central bank will use the interest rates just continue to decreased over the past year, to a level below the rate of inflation.

By the turn of the kredietkraan it is, moreover, a budget deficit will occur. Normally, that is partly funded by the income from tourism, but that will come this year and for the greater part obsolete.

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