content tagged with exchange rate

The dollar/lira exchange rate has surpassed 16.70 for the first time since December 20. As the lira continues to tank, the rise in oil prices have continued since last week.

Savaş Malkoç, the Secretary General of the Pharmaceutical Industry Employers’ Union, says that the exchange rate of Euro used in pricing medications should be fixed at 6.40 lira with an increase of 40 percent and another update should be made in 2022.

Erdoğan: “If the returns made by our people on Turkish Lira at the bank is higher than the increase in the exchange rate, they will receive these returns; but if the returns given by the exchange rate is higher, the margin will be directly paid to our citizens.”

Ahead of the Monetary Policy Committee meeting of the Central Bank today, December 16, the depreciation of the Turkish Lira has continued amid expectations that the policy rate will be cut further.

Main opposition CHP Chair Kemal Kılıçdaroğlu has said, “The minimum wage was 384 dollars in January. They say, ‘Turkey is at full gallop’. If they are to determine a new minimum wage, they should pay the equivalent of 384 dollars in Turkish Lira.”

The exchange rate of the US dollar has surpassed 11 against the Turkish lira. The opposition questions the sharp decrease just before the announcement of the policy rate decision.

The Turkish Pharmacists’ Association has noted that while the exchange rate of Euro is fixed at 4.57 Turkish Lira in pricing of medicine, the current exchange rate is 11 lira, announcing that they have been unable to procure medicine for this reason.

The depreciation of the Turkish Lira (TRY) has gained pace. The exchange rate of the US dollar topped 9.97 TRY today, on November 11.