Dollar sets new record in Turkey exceeding 3.10 liras

Baku. 13 October. REPORT.AZ/ The U.S. dollar continued its rally the Turkish lira on Thursday, setting a new record high at 3.1055 early in trading hours.

The parity rate broke its all-time high record with 3.0974 in Wednesday afternoon, and started Thursday at 3.09 level.

Report informs, the reason is global financial markets, the US Federal Reserve System (FRS) is preparing to raise rates before the end of the year and increasing the flow of the capital from Turkey to the group of developing countries.

Turkey's military and political tensions in the region to continue to belong to the problems that arose in Iraq has a negative impact on the exchange rate of the Turkish lira.

Appreciation of the dollar also reduced the index of the Istanbul Stock Exchange. Currently, the main stock market index BIST-100 fell by 0.56% up to 77 000 points.

Analytical group of Report forecasts sharp decline of BIST-100 and TRY/USD exchange rate will soon reach 3.20 level and even 3.30 by the end of the year. Currently, the US dollar exchange rate equals to 3.1036 TRY/USD.