4.19..cum on 5
Careful what you wish for...
Seriously, a weak lira does no-one any good. Most of the shops, restaurants and bars have to pay their leases in dollars or euros, but sell their goods and services in lira. Only thing they can do is put prices up.
Oil and gas is paid for in dollars, so the cost of fuel and utilities is going to skyrocket if the lira keeps falling against the dollar.
Ultimately, its the man/woman in the street who suffers when stuff like this happens, you can be sure the wee fella ain't turning the heating down a few notches or sticking an extra jumper on in his 6,742 room gaff in Ankara.
So far the central bank hasn't made any efforts to prop up the lira (not that they're short of the funds to do it) so maybe they're going to see how far it'll go. Who knows.
JF
