Turkey: Istanbul locals, tourists react after lira sinks to new low

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Istanbul locals shared little to no surprise after Turkey’s lira sank to a new all-time low on Monday.

“Do you think the Central Bank is independent? They make fools of people, people are aware of everything. They dismiss the Central Bank manager and replace him with their own people. Then they exchange their men again with their own men. They think this is the solution. [The Central Bank is as dependant on Erdogan] as an alcoholic is to alcohol,” said a retired pensioner traversing the iconic shopping avenue Istiklal.

The Turkish currency touched a low of 9.35 against the dollar before closing at 9.34 on Monday.

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SOT, Ayhan, Local (Turkish): “The rich got richer and the poor got poorer. In other words, the rich profited from this economy. The rest of the people are already hungry. There used to be only one beggar on the street, now the street is full of beggars.”

SOT, Hassan, Street seller (Turkish): “The corn was 1 lira back then, it is now 2 liras. The coal was 3 liras, now it is 7 liras. The chestnut was 30 liras, it became 50 liras. So everything doubled.”

SOT, Nadia, Russian tourist (Russian): “We didn’t come for this.”
Yulia, Russian tourist (Russian): “We were not really thinking whether it would be cheap or expensive.
Nadia: “We understood that it would not be very expensive, but now we are travelling in a relaxed way.”

SOT, Mustafa, Retired pensioner (Turkish): “Do you think the Central Bank is independent? They make fools of people, people are aware of everything. They dismiss the Central Bank manager and replace him with their own people. Then they exchange their men again with their own men. They think this is the solution. [The Central Bank is as dependant on Erdogan] as an alcoholic is to alcohol.”

#Turkey #Istanbul #Lira

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