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Report: US-dollar rate to exceed psychological level in December

Report: US-dollar rate to exceed psychological level in December
Forecast: It may exceed 6 TRY and 100 RUB in next 3 years

Baku. 14 November. REPORT.AZ/ US-dollar rate is expected to exceed 4 liras in Turkey and 60 rubles in Russia before the next meeting of the US Federal Reserve System (Fed) on December 12-13.

Analytical Group of Report News Agency informs, probability of increase in discount rate by Fed is currently at 100%. Therefore, despite the increase in dollar's rate in global currency market and the rise in oil prices, US-dollar is strengthening in Turkey and Russia.

Analytical Group says, strengthening of US-dollar in both countries is temporal: "After the Fed meeting, the dollar will get cheaper in both countries, but it is likely to be slightly higher than the average price of the year.

In Turkey, the rate is expected to reach 4,10-4,20 TRY/USD in future and 62-64 RUB/USD in Russia. After the session and Q1 2018, US-dollar rate may decline to 3,90 TRY/USD and 59 RUB/USD, respectively. But in late 2018, it seems that US-dollar will grow rapidly in both countries and this trend will continue until 2020. It is not excluded that US-dollar rate will exceed 6 liras in Turkey and 100 rubles in Russia in next 3 years.

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