After President Recep Tayyip Erdogan fired Central Bank President Naci Ağbal, the Turkish lira began the week with a depreciation against the US dollar. The Turkish lira is currently trading at 7.92 against the dollar, losing about 10 percent since Friday’s close.
So how do people view Ağbal’s firing and the dollar surge? The opinions of the inhabitants of Istanbul on the subject are as follows;
Mehmet Gürses, 66-year-old retiree, said he could not understand the frequent change of the Central Bank presidents, he said: “The situation in the domestic market is not good. Things get complicated when there is no entry of foreign exchange. I do not know how the government will take this job, it seems that it will not. The president changes the head of the Central Bank at every opportunity. You put him in that position. “I can’t understand if you discount the person you put yourself on.”
Turkey pointed out that in the minds of people who receive salaries in Star dollars, the increase in prices based on the exchange rate of the increase, says the purchasing power negatively.
Yildiz said: “Everything is really expensive. If I bought two bags today, it will fall into one bag next month. People do not have foreign currency. People got in trouble with their bread. We can’t buy a bagel for our son. Workplaces are closed, employers cannot employ. “The economy is really bad,” he says.
Retiree Sinan Cevahir, on the other hand, stated that he thought Ağbal’s dismissal was correct: “The president fired the governor of the Central Bank for raising interest rates. The boss is against the interests. The dollar soared during those hours of the night. Is the market open in Turkey, closed. I think there was an external intervention. Turkey, this process was very well managed in the face of the pandemic. Although the economy was not very good during the pandemic period, the nation received its salary. The economy may be a bit bad at the moment, but when the dollar falls in this process, no one is saying that the dollar has fallen, let me cheapen the goods. Conditions may not be very good in Turkey, but there are people looking for £ 5-10,000 for their pocket phone. “
Münir Çetin, who said he worked as a bagel as he couldn’t find a job despite being a university graduate, said: “The economy in our country has now collapsed. I am a university graduate and I cannot do business in my field. I work as a bagel just to avoid being unemployed. The head of the Central Bank, which should change every four years, changes almost every two months. Therefore, the investor abroad has no confidence and withdraws his money. Tolls, gasoline, everything comes in dollars. The status of the merchant is already obvious, half is sunk. Suicide cases increased during this period. Even worse days await us. Even if the government changes, it is difficult to fix the economy right away. Either it will borrow from the IMF or it will make a ten-year development plan. The dollar does not fall without producing something and selling it abroad, ”he said.
Lawyer Osman Inan said: “I believe that the economy can only change with production, not with the change of the director of the Central Bank. My father is trading. Buy in dollars and sell in Turkish liras. As a result, it is more affected. Other than that, the raw materials for all the products you buy are produced in dollars. As such, the rise in the dollar affects our entire lives. “We earn Turkish lira, but we make our purchases in dollars,” he said.
University student Oktay Üner said that the rise in the exchange rate negatively affected educational life. Üner said: “The concerns start with the deterioration of the economy. When worries start, I can’t think of useful things. If I think about how I will pay the rent, if I think about how I will pay the tuition, I cannot give anything useful to this country. Likewise, the country has no right to expect such a thing from me. When I want to buy a computer, I have to buy it at the dollar exchange rate. This means that the product that I will buy will cost more ”.
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