Since the exchange rate of the Turkish lira began to collapse, the government has taken a number of measures that would enhance the value of the lira against the dollar, do you want to know them?Continue reading the article.
The Turkish lira experienced its fastest decline in its history.
Where it decreased from 8 TL per dollar until it reached 18 TL per dollar, and then its value rose to stabilize today to the limits of 13TL per dollar.
The Turkish government, through Turkish President Recep Tayyip Erdogan,
announced a number of measures that have already made a change with a positive impact .
In just 6 hours, its value rose to 9 TL per dollar.
Today, the lira is rolling around at a normal rate of between 13-14 TL per dollar,
and this is somehow stabilizing the lira.
What has the Turkish government done to make this big difference in boosting the value of the lira?
Decisions that revive the Turkish lira .
At first, the government held on to its popular support,
So the government asked its citizens to exchange the dollars they owned and deposit their value in Turkish lira in the banks.
This led to the adjustment of the price and the strengthening of the lira, which it witnessed last month, as it fell to 9 TL for every dollar.
But with the continuation of Mr. Recep Tayyip Erdogan’s policy of reducing interest rates in banks,
The lira returned to decline, but with stability below the so-called “red line”, which the government had estimated at more than 15 liras per dollar.
Then it supported citizens who keep their money in Turkish banks in lira,
And passed a law that compensates them for losses in the event that their value declines later.
Among the decisions that also strengthened the lira was the daily announcement of its value in the morning by the Central Bank,
And adherence to this price, in an attempt to prevent its disruption in the Turkish market.
And the latest decisions that were issued were to oblige foreign investors wishing to obtain Turkish citizenship through the well-known investment methods
Whether by owning real estate or by bank deposit, that their money be exchanged from the dollar to the Turkish lira,
Transferring money exclusively from a Turkish bank to the seller’s account in lira.
As for the bank deposit, those wishing to obtain Turkish citizenship must deposit 500 thousand dollars in lira, and return it – after 3 years – in lira as well.
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