Another record crash in the Turkish lira caused a temporary halt in sales of Apple products in Turkey. As a result of the sharp devaluation of the national currency, Apple products cost significantly less in Turkey than in the US. Currently, Turkish citizens cannot use the Apple website to make purchases. Apparently, sales will resume only after the value of the goods has been adjusted in line with exchange rate movements. The price increase is supposed to make up for the collapse of the lira. Notably, the sale price of Apple products in Turkey includes several taxes and charges that significantly increase the final cost to the consumer. So, most of those wishing to buy gadgets of the American manufacturer brought Apple products from abroad. The benefit was as much as 35% compared to purchasing in Turkey. However, the situation has now changed. The lira has collapsed and the manufacturer hasn't raised prices in time.
The Turkish currency plummeted sharply after the Central Bank lowered interest rates from 16% to 15%. Turkish President Recep Tayyip Erdogan vows to further reduce the key interest rate, as he believes it will help curb price hikes. The fall of the national currency has not dented the confidence of the head of state. However, experts attribute the lira's temporary rise to his meeting with the Crown Prince of Abu Dhabi, as well as to the sale of dollars by Turkey's state banks.
