US-dollar rate in Turkey reaches this year's low

Baku. 3 May. REPORT.AZ/ In cash currency market of Turkey, US-dollar rate fell to 3.5160 TRY/USD yesterday.

Report informs, this is the lowest level in 2017. Thus, on the first working day of the year, the dollar rate was equal to 3.5243 TRY/USD, then sharply increased and on January 11 reached a record value of 3.9423 TRY/USD.

Positive dynamics in the financial markets over the past few months and the completion of the referendum in Turkey led to a fall in the dollar rate by 10.8% below historical value.

Analytical Group of Report forecasts, US-dollar rate in Turkey will fall below 3.50 TRY/USD, however it will not be able to gain a foothold for a long time at this point: "In the coming year, the average rate is expected to be at the level of 3.75 TRY/USD”.