Since 2018, the Turkish currency lira has depreciated sharply, and the current (Aug 14, 2020)exchange rate against the US dollar has fallen by more than 40% during the year. The reasons for Turkey’s economic fragility are various including the increase in foreign debt, the president’s intervention in central bank policy decisions and international relations.
Lira plunge, view from Chinese international students
On August 14, 2018, there were shorter queues of customers than previous days outside Turkish luxury stores. Some Chinese students said that the economic downturn in Turkey has affected their daily lives. Bread has risen from the original 5 cents to 1, and the discounts on student transportation cards also have been reduced.
