Turkish exporters require higher exchange rate: “It should rise as much as inflation”

Mustafa GULTEPE, Chairman of the Turkish Exporters Assembly, argued that the exchange rate should increase, saying that it is impossible to reach a positive point by constantly increasing the minimum wage.

A new increase in the minimum wage, which has edbelow the hunger limit despite the hike given by the government, is expected to be implemented.

The dollar TL is at a historic high around 18.64. The dollar exchange rate, which saw big fluctuations last year, has been fluctuating in a very narrow band due to the interventions of the Central Bank, these days.

Speaking to chairman Gultepe said that there was no way to get anywhere by constantly increasing the minimum wage, while expressing that the exchange rate should increase at least as much as inflation.

IT’S NOT RIGHT FOR EXCHANGE RATES TO REMAIN AT THIS POINT

Gültepe shared the following:

* In case we can reach finance, low interest is for our benefit. I think it is right for interest rates to go down, looking a t it from this point of view, but I do not think it is right for the exchange rate to remain at this level.

* If the interest rate goes up and the currency goes down, we will not be able to find cheap money and the money we receive will decrease. A trap will be formed. Some steps are being taken to avoid increasing inflation.

* We are waiting for the exchange rates to come to a point that will support us at the “price fixing point”. We want to create an environment in which we will (can) compete. If inflation is increasing by 3, exchange rates should also increase by 3. We must be able to determine our price, knowing our cost.