a big mac meal two patties fries and a soda $3.33 like it literally affects everyone in
turkey when the dollar just goes out and goes down why is turkey so cheap right now and i mean
cheap starbucks salted caramel latte grande two dollars sixty cents 25 minute taxi six dollars
bottle of coke 50 cents 10 oreos 65 cents pasta 30 cents so let's be honest as a tourist this
is kind of cool but for the 84 million turks not so much because the turkish lira is reaching new
lows compared to the us dollar life gets much more expensive my money doesn't have any value
if the currency is just like going down and going out this literally affects everyone food is cheap
for me since i've entered the country with my us dollars all right so this is about 500 turkish
lira which is about 67 us dollars so right now one us dollar gets you around seven and a half
turkish lira which is a lot more than what it once was just a few years ago three years ago this 50
bill would have gotten me 175 lira but today 50 gets you 375 lira which means i'm going shopping
a burger at a local burger shop one dollar combo donut chicken lunch two dollars eighty
cents basically a cup of coffee is a dollar sixty a burger one dollar eighty-five cents
a button-down shirt at h&m three dollars thirty three cents but for those living here this all
means lower wages and a more expensive life the thing that i want is just like keep the turks
here stable like as much as possible this is how our economy will increase once again it affects
everything in turkey the money is getting lower and lower last year i earned money 20 for a day
but this year fifteen dollars yeah it's simple it's from h&m this one uh this one is last year
it's what uh 50 turkish lira but now it's 90. so wait why was a shirt that he bought at h m almost
doubled in price from about six dollars to twelve dollars let me head to an h&m to figure this out
imagine you're h&m global company and you're expecting to get twenty dollars in revenue from
selling this shirt here in turkey but because the lira is so volatile you ended up getting 10
instead that means you just can't rely on a currency that's constantly going up and down
if you don't know what the value of the currency is gonna be you can't anticipate your revenue
very well and you could even stand to lose a lot of money from operating in that country in fact
at one point the lira was so low that chinese were getting flights to turkey just to buy luxury items
because places like louis vuitton didn't have a chance to change the prices which meant that the
cheapest luxury items were actually available in turkey currency is not affecting my daily life but
you know the central bank always uses the policy interest rate to stabilize the currency
right that affects our life the interest rates because things become more expensive yeah
definitely so what did you get enemy goes down it slows down this is an econ student i
found in istanbul who has a lot to say on the situation our central bank seems not to buy
dollars not anymore at least and instead they keep selling it at some point they need to buy it back
he thinks that the turkish lira will continue to lose some of its value
and even reach eight and a half lira for every us dollar when the central bank starts to buy the
dollar of course turkish will depreciate youth unemployment here was last reported around 24
but a prospect of going abroad for work or school is now just unaffordable for most if i want to go
to college for abroad i can't now the thing that i want is just like keep the turks here stable like
as much as possible this is what our economy will increase once again thanks for watching let me
know what you think about the economic situation here in turkey let me know below while you're at
it check out more of my videos here in istanbul subscribe to my channel and find me online @upton