Cuma, Ekim 11, 2024

When did the devaluation begin?

The devaluation started at the end of business hours on November 8, 2016, that night the USD gained over two percent against the lira, while the Euro and other currencies gained over four percent. I understood that this was the beginning of the devaluation, because Prime Minister Binali Yıldırım made a huge blunder, he announced that the movement was due to the increase of the dollar against other currencies, but the opposite happened, as can be seen in the parity chart, the USD lost over two percent against other currencies.

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So true

There can be no stronger friendship than a partnership based on interest.