Currency devaluation: How to stay safe in Turkey

Why currency devaluation is a real concern in Turkey

In Turkey, currency devaluation has become a part of everyday financial reality. Fluctuations in the Turkish lira (TRY) directly impact household budgets, savings, and long-term financial planning.

For many people, this means:

• Rising prices for basic goods

• Reduced purchasing power

• Difficulty saving in local currency

• Increased uncertainty about the future

How devaluation affects everyday life in Turkey

When the Turkish lira weakens:

• Imported goods become more expensive

• Energy and food costs rise

• Savings lose value over time

• Salaries struggle to keep up with inflation

Why holding only TRY can be risky

Keeping all savings in TRY exposes individuals to:

• Inflation risk

• Exchange rate losses

• Reduced long-term purchasing power

This is why many people in Turkey look for ways to hold part of their money in USD.

Why USD is commonly used as a safe alternative

The US dollar is widely used because it:

• Holds value more consistently

• Is accepted globally

• Acts as a reserve currency

For individuals, holding USD can provide stability during uncertain periods.

Traditional ways Turkish people try to protect their money

Common approaches include:

• Physical cash dollars

• Local foreign-currency accounts

• Informal or inefficient channels

However, these often involve:

• High fees
• Limited flexibility
• Slow access

Modern digital solutions now offer safer, simpler alternatives.

A modern way to stay safe from devaluation in Turkey

Technology has made it easier to access USD without traditional banking friction.

Modern platforms allow users to:

• Hold USD digitally

• Receive international income

• Convert to TRY when needed

• Reduce unnecessary losses

How Cenoa helps people in Turkey stay safe

Cenoa provides users in Turkey with a US bank account experience, built for global earners and savers.

With Cenoa, users can:

• Hold value in USD

• Receive USD payments

• Choose when to convert to TRY

• Withdraw to Turkish bank accounts within minutes

Digital dollars explained

Cenoa uses USD-backed digital dollars (USDC) only behind the scenes as payment infrastructure.

For users:

• You open a US bank account

• You see USD balances

• You get paid in USD

• You withdraw locally in TRY

There is:

• No crypto trading

• No wallets or private keys

• No volatility exposure

The World Economic Forum explains that stable digital currencies are increasingly used for payments, not speculation.

Why cost efficiency matters during devaluation

When the lira weakens, fees hurt even more.

Traditional methods may cost up to 8.5% in total fees. Cenoa keeps costs under 1%, helping users preserve more value.

Conclusion

Currency devaluation in Turkey is a reality but its impact doesn’t have to be overwhelming. With smarter access to USD, individuals can better protect their savings and income. With Cenoa, users can open a free US bank account in just 3 minutes using only their ID, get help from prompt customer support with real people, and get paid up to 10x cheaper than traditional alternatives. In uncertain times, having reliable USD access makes a real difference.