Inflation

[Paigntonian]

in Turkey is running at 82 per cent. Extraordinary. Sudan, Jordan, even Egypt, face bankruptcy. (BBC News).

[Hymie]

It’s been like that for a long time – I went on holiday to Turkey back in the mid 80s when inflation was running at over 30%. Business people where carrying pillow-cases full of money away from the bank – presumably to pay their staff.

That issue was partly solved by issuing new Turkish Lira, where 1,000,000 old Turkish Lira was equal to one new Turkish Lira.

[ToraToraTora]

Yes I remember the devaluation, prior to that we had to spilt a lot of trades etc that involved Turk lira that saved us a lot of agro.

[Gromit]

Yep, in the 90s holidaying in Turkey, the hoteliers, restaurant owners and bar keeper preferred you to pay in £ pounds sterling. It was a lot more stable than their own currency, and we didn’t pay any commission to our bank for converting our holiday spends to Lira.

[douglas9401]

Pillow cases full of money?
How did these people sleep at night?

[Togo]

Corduroy pillowcases are causing headlines too.

[237SJ]

I also remember when they knocked all of the 00000s of the Lira notes. I have a friend who was a pilot at Turkish. He (and a lot of the other Western guys) left the airline because they were paid in lira and their salary was worth diddly squat.

[douglas9401]

One of them was about their economy being a bit sheet

[jno]

I have one of these

https://tinyurl.com/4cmzatjb

Worth about 5p at the time

[bhg481]

jno - I envy you. I bought a 1,000,000 Turkish Lira for £1 off a friend but it nowhere equals your Zimbabwian note.

[jno]

I live life on the edge, bhg...

[jno]

this is a comparatively low-price one

https://coincraft.com/zimbabwe-10-trillion-dollars-p88-unc