Let’s introduce you the current rate of the local currency:
1 euro = 7.22 Turkish liras
1 US dollar = 6.69 Turkish liras
According to experts, by the end of 2020, the situation may worsen; 1 dollar will be equal to 7 Turkish liras.
The situation is exciting, but no one is surprised at it. The decline in production and exports due to Covid-19, the impact on the tourism sector, 12% of the country’s entire economy – all this provokes a noticeable decline of the lira.