The rise in the dollar has also reduced the purchasing power of the minimum wage. The minimum wage, announced as 17,002 lira by Minister of Labor and Social Security Vedat Işıkhan on December 27, corresponded to approximately 579 dollars at the exchange rate of that day.
When the minimum wage was announced, the dollar was 29.39 TL; 6 days later, it rose to 29.72 TL, causing the minimum wage to decrease by 7 dollars to 572 dollars.
Minimum wage in dollar terms by year:
Date TL Dollar
01.01.2024 17,002 578.7
27.12.2023 11,402 387.9
01.07.2023 11,402 437.3
30.06.2023 8,506 326.0
01.01.2023 8,506 454.1
01.07.2022 5,500 328.5
01.01.2022 4,253 316.4
01.01.2021 2,825 383.3
News Source: 12punto
