Dollar rate in Turkey fell below 3.50 lira

Baku. 5 June. REPORT.AZ/ In Turkey, the US dollar fell below the level of 3.50 liras for the first time in last 6 months, to be exact since December 23 last year. Report informs, reasons are cheapening of the US dollar in the global market on the background of weak indicators of US economy growth and internal factors. Thus, the opening of the summer season and the influx of Russian tourists into the country after the lifting of sanctions will ensure the inflow of foreign currency into the country. The fall of the dollar also accelerates the temporary restoration of political and economic stability, positive trends in the world economy and in world markets.

Analytical Group of Report believes, investors have long considered these expectations, which is why the dollar / lira rate fell by more than 11% after reaching the maximum of 3.94 TRY / USD on January 11. Analysts believe that the rate will not fall below the level of 3.45 TRY / USD. This month the exchange rate will fluctuate between 3.45-3.60 TRY / USD, at the end of this year it is expected to reach 3.70-3.75 TRY / USD. However, in 2018-2020, the process of appreciation of the dollar will continue.