Dollar rashly growing in Turkey

Dollar rashly growing in Turkey Report: By the end of the year the dollar can reach 3,40 TRY/USD
November 14, 2016 14:40
Dollar rashly growing in Turkey

Baku. 14 November. REPORT.AZ/ US-dollar exchange rate in Turkey is close to the new psychological and historical mark - 3,30 TRY/USD.

Analytical Group of Report states, growth of the dollar to 3,3053 TRY/USD on November 9 after the announcement of the results of presidential election in US replaced by a slight decrease.Then, the dollar began to go up again and now exceeded 3,29 TRY/USD:"The course in Turkey is growing against the background of strengthening US currency in the global market, the geopolitical situation in Turkey, the country's high public debt, a large amount of trade deficit."

Analytical Group of Report forecasts rapid outflow of assets in Turkish lira due to the weakening global economy,devaluations of national currencies of developing countries, the influx of global capital in US against the backdrop of increasing the discount ratewhich will inevitably lead to the cheapening of the Turkish lira: "Previously, we assumed that the dollar exchange rate in Turkey by the end of the year will reach 3,30 TRY/USD, now we can not rule out growth to 3,40 TRY/USD, and in the first half of 2017 - even to the level of 3,80 TRY/USD."

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