Syria: Prices double in northern Syria following Turkish lira record low

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Residents in Idlib could be seen queuing for the market after the Turkish lira plummeted to a record low.
The expulsion of 10 diplomatic envoys, including the United States and Germany, ordered by Turkish President Recep Tayyip Erdogan, sent the Turkish lira nose-diving to a historical low of 9.85 on Monday afternoon.
One local resident said workers were now unable to afford meat following the lira crash. “The Turkish currency dropped a lot, and everyone was affected because a day labourer takes 20TL, which is not enough for two bundles of bread and one packet of cigarettes for the 20TL,” he said.
Another complained that prices for basic goods had become unaffordable. “The purchasing value is very low you can’t buy anything at all. Anything you want to buy is now expensive. A bottle of oil 15 TL, 1kg of tomatoes for 6.5 TL, when it was 2.5 TL. Cucumbers that were for 2TL became for 7TL a kilo. Bananas were for 4TL, became 8TL.”
The living conditions of thousands of Syrian citizens have been affected not only by the ongoing conflict but also by the consequences of the devaluation of the Turkish lira, which became the main currency of exchange and source of income when the Syrian lira lost its value against the dollar last year.
The currency crash has been reflected in the prices of basic commodities that thousands of local residents purchase daily from the market. Similarly, the rising cost of petrol, diesel and domestic gas has made life even more difficult for Syrians.
On Monday, President Erdogan reversed the threat to expel the 10 ambassadors, after several of the affected countries released statements saying they respected a UN convention that required diplomats not to interfere in a host country’s domestic affairs.
The Turkish lira has since bounced back 0.7 percent.

SOT, Local resident (Arabic): “People were affected a lot by the Turkish currency. The Turkish currency dropped a lot, and everyone was affected because a day labourer takes 20TL, which is not enough for two bundles of bread and one packet of cigarettes for the 20TL. He cannot eat meat, he cannot eat chicken or vegetables, and vegetables are very expensive. A kilo of tomatoes costs 6 TL, today the worker is most affected by the Turkish currency. As for the people who earn in dollars, their lives have not been affected, but those who earn in Turkish lira are done.”

SOT, Local resident (Arabic): “The lira has become at 9.65 [value for 1 dollar], meaning it has become a double for the citizens. The price difference has become so much that it is not catching up. The purchasing value is very low you can’t buy anything at all. Anything you want to buy is now expensive. A bottle of oil 15 TL, 1kg of tomatoes for 6.5 TL, when it was 2.5 TL. Cucumbers that were for 2TL became for 7TL a kilo. Bananas were for 4TL, became 8TL, the citizen never manages to catch up, in terms of the exchange rate with the dollar, prices are skyrocketing and the exchange rate is the double now, from 5.5TL to 9.65TL.”

SOT, Local resident (Arabic): “As for the Turkish lira, it has affected the people a lot, especially that 80 percent of the population are displaced, meaning today you want to go buy a bundle of bread it will cost 2.5TL, and a kilo of tomatoes for 6-7TL, and people are working for 25 and 30 TL. May god help the people, what can we say.”

SOT, Local resident (Arabic): “The value of the Turkish lira is dropping consciously, a 100 dollars used to make 450-500TL, now it’s 1000TL. Now you spend a 100 dollars without even noticing.”

SOT, Local resident (Arabic): “Our main purchasing currency is in dollars, and we are affected by the exchange rate every day. I mean, during the day we sell in Turkish liras but by the evening, when the Turkish lira collapses and we go back to buy materials for the petrol station, for example, petrol, which is purchased in dollars and sold in Turkish lira. The main price rises, the sources are in dollar not in Turkish lira. I mean, during the day we sell our product in Turkish lira, but by the evening, when the exchange rate of the Turkish lira drops [we loose the value of our earnings]. The next day we have to buy materials for the petrol station again, but this time in dollars, like petrol, which is purchased in dollars and sold in Turkish lira. And this process collapses, the Turkish lira collapsed, and we are affected, because the main source is in dollar and the goods as well are purchased mainly all dollars first.”

#Syria #Turkey #Lira #Idlib

Video ID: 20211025-064

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