Part 4/9:
The Turkish Lira (LRA) has suffered tremendously, losing over 80% of its value in the past five years. In 2018, one dollar was worth about 4.5 LRA; as of now, it’s nearing 40 LRA to the dollar. Such depreciation has rendered imports exorbitantly expensive; everything from natural gas to luxury items suddenly became burdensome for both businesses and consumers reliant on foreign goods. As a direct result, everything from groceries to transportation skyrocketed in price.