It’s been few months now that the Lira had been losing 200/300 Lira every week or so of its value, but the Lira’s latest plunge has made it lose over 90% of its value in few days time and it just crossed the LL 15,000 mark today. It’s hard to describe the key reason behind this recent deterioration as there are many factors involved, but the shortage of dollar (demand/supply) tops them all.

People and businesses are rushing to buy more dollars from the black market, a lot of currency exchange offices are manipulating the prices, and banks are not giving away any fresh dollars. If anything, they’re probably buying from the black market as well. Add to that politicians who aren’t even trying to re-assure people or at least give out a statement to explain what’s happening. They want the country to collapse and they couldn’t care less.