US-dollar drops below 3,60 TRY in Turkey

Baku. 27 March. REPORT.AZ/ Today, US-dollar rate fell below 3.6 TRY in Turkey again. 

Report informs, the rate decreased by 0,7% and made 3,5870 TRY/USD compared to the figure dated March 24.

Decline of US currency exchange rate in Turkey is caused by depreciation of the dollar on the world market. The reason is doubts by global financial market participants in Trump’s plans to raise tax reforms and fiscal costs.

Analytical Group of Report believes; the dollar may fall further by 1-1.5% in global foreign exchange market. In this scenario, US exports will accelerate, inflation rise. This, in turn, will cause increases in Fed's interest and ultimately, will lead to the strengthening of the dollar: “Therefore, significant reduction in the dollar's exchange rate is not expected. In Turkey, the US-dollar exchange rate can be regressed to the level of 3.55 TRY/USD. Then, the increase in interest rates by the Fed will stabilize the exchange rate at 3,65-3,75 TRY/USD level”.