3 ms·

I would guess confiscation (forced replacement with lira) is not that many steps ahead. The trigger would likely be if the government sees people starting to mo

I would guess confiscation (forced replacement with lira) is not that many steps ahead. The trigger would likely be if the government sees people starting to move their foreign currency accounts out of the country.

dizhn 4y ago
This is already being applied to companies selling to foreign countries. As soon as you receive your payment you are forced to convert to TRY. You have to kind of immediately convert back to foreign currency and take the exchange markup and fees hit if you hope to be able to get new raw materials. Very few materials can be sourced locally. You also cannot enter contracts with foreign currency domestically anymore. The government has done almost everything save for flat out banning foreign currencies.