fne8w2ah@lemmy.world to World News@lemmy.worldEnglish · 2 days agoTurks drive hours to buy cheese in Greece and escape inflationwww.straitstimes.comexternal-linkmessage-square29fedilinkarrow-up1203
arrow-up1203external-linkTurks drive hours to buy cheese in Greece and escape inflationwww.straitstimes.comfne8w2ah@lemmy.world to World News@lemmy.worldEnglish · 2 days agomessage-square29fedilink
minus-squareLorem Ipsum dolor sit amet@lemmy.worldlinkfedilinkEnglisharrow-up5·2 days agoThe Turkish central bank artificially holds the value of the Turkish Lira at great cost. Turks take advantage of that.
minus-squareLorem Ipsum dolor sit amet@lemmy.worldlinkfedilinkEnglisharrow-up4·1 day agoThey buy shittons of Lira with their foreign currency reserves.
minus-squareplyth@feddit.orglinkfedilinkEnglisharrow-up1·22 hours agoThey import more than they export. The foreign exchange reserves are stable at about $80 billion, besides one dip. Where do those reserves come from?
minus-squareLorem Ipsum dolor sit amet@lemmy.worldlinkfedilinkEnglisharrow-up2·6 hours agoLast time I heard about it were the Turkish elections where they decimated their reserves. Situation apparently has changed now, you know more than me
The Turkish central bank artificially holds the value of the Turkish Lira at great cost. Turks take advantage of that.
How do they do it?
They buy shittons of Lira with their foreign currency reserves.
They import more than they export. The foreign exchange reserves are stable at about $80 billion, besides one dip.
Where do those reserves come from?
Last time I heard about it were the Turkish elections where they decimated their reserves. Situation apparently has changed now, you know more than me