Page 21 - TURKRptDec22

2.6 Business and consumer confidence surveys
Turkey is the undisputed world leader in cryptocurrency trading, a study published by the Bank of International Settlement (BIS) showed on November 14.
On average, 3% of Turks actively used cryptocurrency exchange apps every day in June.
Turkey also claimed a world record when an average of 5% of Turks traded crypto on each day of December 2021, a month that saw the Turkish lira (TRY) crash from the 13s versus the USD to the 18s within a few days.
Turkey holds some intriguing world number one rankings. In September, it took top spot from Brazil for the world’s most expensive iPhones, with the launch of the iPhone 14.
The country is also the regional leader in the bne IntelliNews Despair Index. And it releases the highest or second highest official GDP growth figures in the world. It is also competing to top the global inflation league.
Separately, on October 27, the BIS’ triennial central bank survey showed that the daily transaction volume on Turkey’s hard currency markets contracted to $18bn in 2022 from $19bn in 2019, $22bn in 2016 and a record high of $27bn in 2013.
Since 2018, when the lira crashed in a currency crisis, the country's government has strived to scale down and locally control the financial markets.
21 TURKEY Country Report December 2022 www.intellinews.com