US-dollar rate approaches 3.90 lira in Turkey

Baku. 11 January. REPORT.AZ/ Exchange rate of US-dollar in Turkey reached 3.8967 TRY/USD level this morning. 

Report informs the rise of the dollar in Turkey associated with decision of Central Bank of Turkey (CBT) not to increase the discount rate.

Thus, the increase in discount rate according to the CBT will slow down economic growth.Investors though argue that there are significant differences between the discount rate and inflation therefore they started to sell lira and purchase foreign currency.

Analytical Group of Report says that the CBT will hold next meeting on January 24. Up to this date increase in dollar rate not excluded. Analysts believe, interest rate will be increased at the meeting and dollar will fall sharply. Otherwise, the dollar might reach the level of 4,50-5,00 TRY/USD in the near future.