The lira continues to approach all-time lows amid record-low oil prices and the economy being plagued by the coronavirus; The Lira is approaching 7.0 per US dollar.
With COVID-19 putting nearly every country in the world on notice, and especially those in the oil industry, some economies are taking a bigger hit than others. One of those is Turkey. After another approaching weekend with a mandatory curfew, the lira took another dip in value this week. The lira is now approaching the value of 7.0 per US dollar.
On Tuesday, the lira dropped to 6.97 per dollar, another 0.5%. This puts the lira at its worst value since August 2018. The central bank of Turkey has now cut its interest rate for the eighth time in a row.
While Turkey predominantly imports their energy and therefore is the beneficiary of the current oil market, the halt on international travel and tourism will have no small effect on their economy. To make matters worse, with global demand being paused, whatever exports Turkey does produce are not being sought after right now.
Coincidence or Fulfillment?
There is no coincidence to the fact that Turkey, Iran, and Russia are all facing devastating economic circumstances right now. Furthermore, Russia is the key player inside of Syria as we speak. It’s no coincidence because it was foretold by God Himself through the prophet Ezekiel.
While the coalition itself has been forming over the last few years, we’re now seeing the economic circumstances that will prepare them for their invasion of Israel come to fruition. Afterall, the purpose of their invasion is said to be focused on financial/material enhancement. This pandemic is only pushing each of them into more desperate situations.
‘Thus says the Lord God: “On that day it shall come to pass that thoughts will arise in your mind, and you will make an evil plan: You will say, ‘I will go up against a land of unwalled villages; I will go to a peaceful people, who dwell safely, all of them dwelling without walls, and having neither bars nor gates’— to take plunder and to take booty, to stretch out your hand against the waste places that are again inhabited, and against a people gathered from the nations, who have acquired livestock and goods, who dwell in the midst of the land. Sheba, Dedan, the merchants of Tarshish, and all their young lions will say to you, ‘Have you come to take plunder? Have you gathered your army to take booty, to carry away silver and gold, to take away livestock and goods, to take great plunder?’ ” ’