Baku. 27 January. REPORT.AZ/ Today, US-dollar rate exceeded 3.9 TRY in Turkey again. Report informs, last time such a case has been registered on January 11-12 and TRY/USD rate was equal to 3,9423.
The dollar increased after the statement made by Turkish President Recep Tayyip Erdoğan on discount rate.
Thus, the head of state was in favor of single interest rate policy - keeping the interest rate of Turkish Central Bank at 8%. Notably, Turkish Central Bank currently uses 3 percent instrument.
These are 1-day and 7-day repo, as well as interest on late liquidity.
Meanwhile, Fitch international rating agency is expected to announce Turkey's rating today.
Analytical Group of Report News Agency believes, the agency will decrease the country's rating. Moreover, the Turkish lira expected to weaken slightly and TRY/USD rate will exceed 4 and reach 4.3 at year end.
If Fitch agency maintains Turkey's rating stable, then TRY/USD rate may drop to 3.7.