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    U.S. dollar may sharply rise in Turkey this week

    Report: In the short-term perspective the rate may reach 4,20-4,30 USD/TRY

    Baku. 20 November. REPORT.AZ/ It’s not ruled out that this week U.S. dollar in Turkey will sharply increase.

    Analytic Group of Report states that it may be caused by the court hearing of businessman Rza Zarrab planned for November 27 in USA. Amid the approach of inflation indicator in Turkey to 12%, unwilling of Central Bank of the Republic of Turkey (CBRT) to increase the interest rate is indicated as the main reason for rising of dollar’s value.

    The mounting foreign trade deficit of Turkey continues negatively affect the balance payments of Turkey.

    In October the foreign trade deficit of Turkey as compared with last year increased by 74.6% to $7.36 billion, on September it rose by 85% and totaled $8.135 billion.

    Analytic group of Report considering the mentioned factors predicts that dollar is in the long-term raising trend in Turkey, in the short perspective the rate will reach 4,20-4,30 USD/TRY level. 

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