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travel
& recreation
It
may be cheaper to visit "Istanbul"
today... may be different tomorrow !
In late March, 2001 the Turkish currency-Turkish
Lira, declined more than 30%, On
the average, the value of 1US Dollar,
increased from 687,900.0, up to 1,050,000.0
(million!) Turkish Lira, in one day! A
result of multiple economic and political
pressures within Turkey, including high
inflation, the state of some banks and issues
relating to efficiency and accountability in
the Public sector.
With regard to tourists coming to
Turkey, two thirds of them visit through
prearranged package tours, whose prices
are pegged to the US Dollar or the German
Mark, the prices of these tours are predicted
not to change significantly very soon, non the
less, in the immediate future there may be
some cheaper merchandise, goods &
services in the streets of Istanbul.
However, if the IMF’s plan to control
inflation, manages to go back on track, within
the year, prices may stabilize again… it is
hoped. In the mean time, the current situation
may cause some confusion and inconvenience for
tourists, trying to change their money, as the
exchange rate may fluctuate on a daily
basis and within each day, necessitating
frequent checking of the overhead "electronic
monitors" displaying exchange rates!
edited
by T. Farhat, MD - 2001
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