Apple stops sales of iPhone, Mac and other products in Turkey after the fall of Lira

Apple has temporarily halted online sales of its devices, from iPhones and Macs in Turkey. The reason for this is the latest monetary policy enabled by President Recep Tayyip Erdogan, which has caused the country’s currency, the lira, to plummet by as much as 42 percent. Apple has not officially announced that it has temporarily suspended sales in the country, but MacRumors reports that its online purchases are not available, which is likely due to economic instability.

Although Apple’s online store in Turkey is fully functional, you will not be able to add products to your cart and pay. Instead, the website reports that almost all devices are unavailable, and Turkish consumers living in the region will be extremely disappointed that the latest policy prevents them from getting their favorite Apple product. As if the persistent chip shortage was bad enough, now we have the California-based behemoth halting sales in a country where it was probably hard to get its hands on Apple’s latest and greatest product before.

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According to Reuters, Turkey’s lira plunged 15 percent on Tuesday, a day after Erdogan said there would be no rollback from a monetary policy that has seen the country’s central bank cut interest rates amid a soaring inflation. The lira was trading at an all-time low of 13.44 to the dollar before recovering to 12.86 against the dollar later in the day.

Unfortunately, the lira has lost 42 percent of its value this year, and for the moment, that decline continues to increase. The former deputy governor of the Semih Tumen bank, who was previously ousted by Erdogan in the reform of the latter’s leadership, believes that the value of the lira should be protected.

“This irrational experiment that has no chance of success must be immediately abandoned and we must return to quality policies that protect the value of the Turkish lira and the prosperity of the Turkish people.”

The advantage of this drop is that reducing the value of the lira will allow Turkey’s exports to be more price competitive, while the entire region will be seen by foreign entities as a lucrative investment opportunity, which will also result in an increase in the price. job. Unfortunately, if you are looking for an Apple product online, you will be out of luck, although it is unclear whether the same practice has been observed at the company’s outlets.

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News source: Reuters