Busra Erkara

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Tourists, many from Saudi Arabia and Asia, lining up in Istanbul this month outside a Louis Vuitton store next to a digital billboard giving updates on various currencies and the Turkish stock exchange. Credit Yasin Akgul/Agence France-Presse — Getty Images

On Aug. 11, I was at a friend’s wedding at CerModern, a contemporary art museum in Ankara. Gold coins are the preferred wedding present in Turkey. The guests seemed subdued, but they did show up with gold coins in their clutches and pockets. Heated conversations around the price of gold filled the museum courtyard.

The previous day, after escalating tensions between Turkey and the United States, President Trump had doubled metal tariffs on Turkey. The value of the lira fell by 20 percent against the dollar and pushed prices up in the country.

“I guess it is not the best time to get married,” my friend, the bride, said, sighing.…  Seguir leyendo »