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THY

Why Turkish lira is going down since last 12 years from 1.15 to 6 per dollar

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Hello friends, 

 

I am curious about one question, in 2008, 1 USD was equal to 1.15 TL but now in 2020 1 USD is 6 Turkish Lira. Why is it so? 

 

I tried to do a research, at that time Turkish GDP was at 750 Billion $ and now it is 850 Billion $. The economy over time has increased the GDP but the Lira is going down. Why is it so? 

 

And if lira was almost equal to Dollar, is it possible now if corrective actions are taken in the monetary policy to get Lira back to its previous glory standing head to head with the dollar? 

 

Looking forward for opinion, 

THY

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