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Originally Posted by Darren
Turkey has long had a Dollarised economy- so much so that it is only in the relatively recently that goods have not been priced in Dollars - usually when there's a devaluation prices quickly adjust upwards to maintain there hard-currency value - so the Dollar value of the goodsw is maintained.
With the Lira at 2.38 today that means its up 2.5% since last week, and up 10% from a couple of months ago, and down roughly 10% from year end.
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Yes, but as the dollar has been decreasing in value towards the Euro for quiete some time now, does that mean that the foreseen devaluation will be less or more compared to Euro ?
I really wonder why the YTL has to be so dollarised anyway