Dollar rate in Turkey updates record set 8 months ago

Baku. 9 October. REPORT.AZ/ The U.S. dollar rate in Turkey increased by over 6% and exceeded 3.85 TRY over the past month.

Report informs citing the Bloomberg, the reason is political tension between the United States and Turkey.

Thus, immediately after the U.S. has stopped issuing visas to Turkish citizens, Turkey has also taken the analogical step. Therefore, is has affected the rate of national currency against the U.S. dollar.

Notbaly, dollar rate last time reached this level in Turkey on January 30, i.e. about 8 months ago. However, in Turkey's cash foreign exchange market currently dollar is equal to 3.71 liras. In any case, the dollar rose by 3% compared to the end of last week.

Analytical Group of Report believes, dollar rate can hardly fall below 3.53 liras in Turkey. Because, there are certain reasons for lira to depreciate against dollar. First of all, Turkey's foreign trade deficit has increased.

By late 2017, dollar rate in Turkey can be 3.6-3.75 TRY, and next year 3.7-4.2 TRY.