The slump in the Turkish pound continued and intensified after
In particular, the Turkish currency fell below 4,37 against the dollar, showing a decrease of 2,7% since the beginning of the week. One dollar is now worth 3,78 Turkish pounds.
The slump is linked to the recent uncertainty in Syria, and now adds to the overall picture the future of the Iran deal and the new turmoil that this development is creating.
The Central Bank of Turkey is expected to meet on June 7, before the early elections, and it is not ruled out that intervention will be made in order to stabilize the situation. Nevertheless, it is doubtful whether any intervention could bring substantial results.
The devaluation of the Turkish pound has direct consequences in everyday life in the occupied territories. Significant increases have already been observed in the price of electricity and in its price