USD rate in Turkey to exceed 5.0 TRY in next two years

Baku. 16 May. REPORT.AZ/ The exchange rate of the US-dollar in Turkey will fluctuate between 3,50-3,60 TRY/USD by the end of May. Taking into account the fall of the US-dollar in global financial markets, dollar rate in Turkey not expected to fall below 3,50 TRY/USD without any force majeure.

Analytical Group of Report News Agency says, against the background of expectations regarding increase in discount rate by the US Federal Reserve System (Fed) on June 13-14, dollar is expected to strengthen on world currency market.

This could lead to slight increase in dollar rate in Turkey.However, with the arrival of the summer tourist season and flow of foreign currency to Turkey will not allow exchange rate of the dollar to exceed 3.60 TRY/USD level.

Notably, Wednesday, May 15, Central Bank of Turkey (CBT) made a forecast at 3.80 TRY/USD for the year end. 

Analytical Group of Report News Agency believes, in Turkey exchange rate of the dollar rate is expected to be 4 TRY/USD in 2018. By 2019, exchange rate of the US-dollar in the global market may exceed 5 TRY/USD level.