Question

evaluate our domestic currency { TL ( TURKISH LIRA ) }in terms of functions of money ( in exchange economy ) to what extent it is successful or failing
-explain it through an example

submission is NOT LONGER THAN A PAGE AND NOT SHORTER THAN A PARAGRAPH

Answer 1

The inflation rates in Turkish is very high and the value of Turkish Ira is falling drastically.Some of the main reasons contributing the fall in the Turkish Ira is due to the high inflationary pressures prevailing in the Turkey,increased recessin and high rate of unemployment.At present due to the Corona virus,the pandemic has resulted in the further decline on the value of Turkish Lira.These situation in Turkey has negatively impacted the role of Turkish Lira currency as a medium of exchange and as the store of money which are the main functions of the money.Recently to reduce the inflation the six zeroes has been deleted from the Turkish Lira currency and the new currency of Turkey is the New Turkish Lira.The exchange rate of Turkish Lira outside the Turkey is very poor.Due to the inflationary pressure prevailing in Turkey it is difficult to predict the future value of Turkish Lura.Recently the value of Turkish Lira has dropped so low against the Euro and dollar.Recently 1USD=8.35 Turkish Lira.In 2017 1USD=3.43 Turkish Lira.With the rates given above we can clearly see that the value of Trisha Lira is dropping drastically.Hence if role of Turkish Lira as a currency is poor.