17:09 - 12.06.2023
June 12, Fineko/abc.az. The loss of the Turkish lira more than by 16% over the past month has affected export prices for products made in the fraternal country. Thus, the lira, which has become cheaper relative to the dollar, depreciates even compared with most other currencies, ABC.AZ reports, quoting MP Vugar Bayramov.
He noted that depreciation of the lira affects the volume of orders on electronic trading networks. So far, there is no sharp change in prices for Turkish products in lira terms in these networks, and therefore such orders are considered effective.
At present, it is possible to order Turkish products at a lower price in manats through electronic trading networks:
"However, amid the depreciation of the lira against the dollar, inflation is also observed in Türkiye. Following Jan-Apr 2023, the inflation rate in Türkiye exceeded 45%. Consumer prices remain high for now, even if tough measures are taken against inflation. Therefore, at present, decline of the lira does not have serious and sustained impact on the consumer market of Azerbaijan. This means that even if there is currently no reduction in the price of products made in the fraternal country on the consumer market, prices for orders of goods in manats through electronic trading networks have decreased. This has made such orders even more attractive."
