On the example of Turkey: the central bank of Turkey stopped intervening in the domestic foreign exchange market after the second round of presidential elections was held in the country, in which Erdogan won. After that, the Turkish lira depreciated sharply, losing about 11% over the past week. Since the beginning of this year, the lira has already depreciated by 20%, and since the last presidential election, its value has collapsed by 80%.

Against the background of everything that is happening in the financial market of the country, the demand for USDT has significantly increased in it. A surge of interest in this stablecoin was observed in May, and continued in June. At the beginning of the month, the trading volume of this token on the market amounted to 10% of all transactions with cryptocurrencies. By buying USDT, the market rate of which is rigidly stabilized in relation to the US dollar, participants in the Turkish foreign exchange market are trying to preserve their savings, which are rapidly depreciating when they are invested in the lira.