The exchange scissors of the banks will also burn citizens: From automobiles to furniture…

Until yesterday, the banks’ buy-sell margin on foreign exchange transactions exceeded 1.3 lira.

Industrialists who have to make payments in foreign currency change the foreign currency at 7:40 p.m. on the day of their payment, and after 15-20 days they begin to have losses when they recover it from the banks at 8:50 p.m.; He says that the effects of this situation, which creates difficulties in costing and pricing, will increase prices in the domestic market no later than after the elections.

Speaking to Sozcu.com.tr, TOBB Vice President and Kocaeli Chamber of Industry President Ayhan Zeytinoğlu said: “If the official rate has nothing to do with the cost rate, the cost rate is used. . We can see this as a price increase factor,” he said.

The president of the Association of Industrialists and Entrepreneurs of Ostim (OSİAD), Süleyman Ekinci, noted that many products, from automobiles to furniture and exterior coverings, from cutlery to glass products, will get their share of these increases.

‘EVERYONE BUYS 21 TL DOLLARS’

Speaking to Sozcu.com.tr, Aegean Region Chamber of Industry (EBSO) Chairman Ender Yorgancılar said: “There is a difference of more than 1 TL between the foreign currency you buy and the foreign currency you sell. When you try to buy the dollar that changed from 19.4 to 19.5, you find yourself at the 20.5 to 21 levels. This is a situation that affects the cost of those who have foreign currency debt. While they make costs, they all base 21 lira on the dollar, ”he said.

‘IT WILL BE REFLECTED IN THE PRICES OF THE PRODUCTS’

According to Ayhan Zeytinoğlu, the widening of the gap between the purchase and sale of foreign currency especially affects importing exporters.

Due to the fact that a significant number of exporters in Turkey are also importers, a large number of people were negatively affected by this situation and were unable to calculate the costs.

“If we generalize, a person who exports for 100 lira also imports 70 lira,” Zeytinoğlu said.

Stating that these cost increases will be ‘reflected as much as possible’ in product prices, Zeytinoğlu said, “So this actually means a price increase” and continued as follows:

“There will be problems in sectors that export mainly on the basis of imports, namely iron and steel, machinery, precious metals, metals such as aluminium, copper and all other sectors whose raw materials are not produced in Turkey and related final products.

One of the effects is that if the exporter that imports the raw material has difficulty supplying the merchandise, its exports may decrease.

‘THE INFLUENCE IS SEEN AFTER THE LAST ELECTIONS’

Süleyman Ekinci listed the areas that will be particularly affected by the bid-ask difference in foreign exchange transactions as the plastics industry, medical products, chemical materials, iron and steel, wood products, yarns and wood from the pharmaceutical industry, and said that there may be further price increases on end products related to these areas:

“Whatever the entry price or cost, this relationship is also reflected in the price of the product. There is no price increase at the moment, but if it continues like this, it will be reflected in a week, ten days, and we will see the effects no later than after the elections.

TRANSACTIONS ARE NOT ONLY RECORDED IN THE GRAND BAZAAR, BUT ARE ALSO RECORDED OUTSIDE THE RECORD

On the other hand, Ekinci affirmed that “peace in the domestic market has deteriorated” and the profit margin in exports has been reduced due to the gap between buying and selling in the exchange rate, and stressed that there is a greater tendency to informal economy to avoid this situation.

“There is a problem in exports and in the domestic market: when you send goods abroad, there is an obligation to convert 40 percent of the incoming currencies into TL. After 20-25 days, payments are made in foreign currency. Ekinci said that foreign currency exchanged at 19.40 that day is bought back at 20.5 after 20 days.

“For those who buy goods in foreign currency, sell them here and pay their debts in foreign currency, the loss is as much as the exchange difference. Firms also buy at the free market exchange rate to protect themselves. No one wants to transact from banks. Transactions began to change not only in the Grand Bazaar, but also in exchange houses, so to speak, under the stairs, for those who trade openly, that is, for the unregistered.