laura on Nostr: The invisible costs of inflation. Why are there so many ATMs in Turkey? In every city ...
The invisible costs of inflation.
Why are there so many ATMs in Turkey? In every city there are thousands of them, and often in the squares one can meet them in rows. Dozens of ATMs side by side.
The reason is very simple: because of inflation today the highest denomination banknote in circulation, the 200 Turkish Lira bill, is worth just over $7. Citizens therefore need a huge amount of banknotes to live on. Going to the ATM to withdraw new cash is a daily reality.
Imagine the cost and complex logistics involved in handling this. It is so difficult that it very often happens that ATMs are empty and banks do not make it in time to replenish them. That's why you need so many of them scattered just about everywhere in the city.
This is just one of the many invisible costs of inflation.
#bitcoinexplorers
Why are there so many ATMs in Turkey? In every city there are thousands of them, and often in the squares one can meet them in rows. Dozens of ATMs side by side.
The reason is very simple: because of inflation today the highest denomination banknote in circulation, the 200 Turkish Lira bill, is worth just over $7. Citizens therefore need a huge amount of banknotes to live on. Going to the ATM to withdraw new cash is a daily reality.
Imagine the cost and complex logistics involved in handling this. It is so difficult that it very often happens that ATMs are empty and banks do not make it in time to replenish them. That's why you need so many of them scattered just about everywhere in the city.
This is just one of the many invisible costs of inflation.
#bitcoinexplorers