US-dollar rate climbs over 3.70 lira in Turkey

Baku. 5 April. REPORT.AZ/ Exchange rate of US-dollar in Turkey stepped over 3.70 TRY/USD. 

Report informs, inflation rates exceeding expectations, as well as coming constitutional referendum are main reasons of national currency losing ground against US-dollar. Inflation exceeding expectations has pushed US-dollar up to 3.66 TRY/USD, whereas currently predictions over referendum result is considered as main reason affecting US-dollar. Unstable forecasts over results affects exchange rate. Foreign investors are not happy with possible transition of the country to presidential government system. That’s why they may reduce investments in case of positive outcome of the referendum. Steps of government are also unpredictable in case of opposite result.

Report’s expert group predicts US-dollar exchange rate to rise to 3.75-3.80 TRY/USD point until referendum with following drop to 3.60-3.65 TRY/USD. 

Notably, highest rate of US-dollar in Turkey was recorded early this year at 3.9423 TRY.