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Turkey: Four ways citizens are trying to survive the financial crisis

Published date: 19 April 2021 15:09 UTC
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Last update: 25 sec ago
Over the decades, Turkish people have learned to be resilient in the face of recurring economic shocks.
Elderly people would regularly keep savings in the form of gold or other valuables under mattresses or pillows, deemed safer than the banking system. Learning to protect oneself from regular financial meltdowns was part of the family heritage received from one s parents.
Now Turkey is facing another currency crisis, which has been dragging on since 2019, with the Turkish lire losing nearly 20 percent of its value in the last 12 months. Central Bank reserves now stand at a $47bn deficit, raising concerns over the balance of payments. Annual inflation hit nearly 16 percent in March and the country s real unemployment rate is almost at 30 percent. ....

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Erdal Atabek : Devlet sırrı - ticari sır...

Erdal Atabek : Devlet sırrı - ticari sır...
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Turkey: Cryptocurrency ban triggers concerns over more regulations

Published date: 16 April 2021 11:38 UTC
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Last update: 5 sec ago
The Turkish government has banned overnight the use of cryptocurrencies and crypto assets to purchase goods and services, via a Central Bank regulation published in the Official Gazette on Friday.
The Central Bank, in a subsequent press statement, said that “crypto assets entail significant risk” to the interested parties, including creating “non-recoverable losses”.
The decision also bans the use of digital wallets in cryptocurrency transactions.
The regulation, which will take effect on 30 April, pushed Bitcoin down by 2.59 percent to $61,757 on Friday morning.
For the past two years, an estimated one million to three million Turkish citizens have invested in cryptocurrencies and assets to benefit from the Bitcoin rally and protect their savings against annual inflation of up to 16 percent. The daily Turkish transactions in the cry ....

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Best and Worst Performing ETFs in March

Best and Worst Performing ETFs in March
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В Турции рухнули фондовый рынок и сектор туризма. Поможет ли криптовалюта?

В Турции рухнули фондовый рынок и сектор туризма. Поможет ли криптовалюта?
regnum.ru - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from regnum.ru Daily Mail and Mail on Sunday newspapers.

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