German Chancellor’s statement causes sharp decline in EUR rate

Baku. 29 October. REPORT.AZ/ German Chancellor Angela Merkel’s statement about not putting forward candidacy for leadership of her party has caused sharp decline in the exchange rate of EUR.

Report informs citing Turkish media that USD/EUR rate fell to 1.1369 for the first time.

Interesting enough, the USD rate against TRY also declined. The TRY/USD rate was 5.62 last week while 1 USD was TRY 5.65 after Turkish Central Bank’s decision about interest rate on October 25. Note that the fourth inflation report of 2018 is expected to be announced by end of this week.