Effect of changing exchange rates on price of imported materials. January 2021 USD 1.00 = TRY 7.34 TRY 73,400 June 2021 USD 1.00 = TRY 8.78 TRY 87,800. What has happened to the value of the Turkish lira from January to June? Choose the correct answer. The Turkish lira has depreciated relative to the U.S dollar. The Turkish lira has appreciated relative to the U.S dollar. The Turkish lira has dropped in value relative to the Turkish lira