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August 8, 2022
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‘There’s jobs but no money’: Turkey’s economic crisis begins to bite

As the value of the lira plummets and inflation soars, Turkish citizens are struggling to adapt and survive

In a jewellery shop close to Istanbul’s Taksim Square, Seda unzips an elegant black leather pouch and piles her gold jewellery on the counter to discuss selling it all. The shop owner gently places gold chains, rings and a pendant on a small scale, before immediately calling a trader to discuss the latest rates.

“I used to look at the price of gold once a week. Now I look roughly 50 times a day,” says the owner, who asks that his name is withheld. He advises Seda to wait – perhaps the price will stabilise.

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