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    US dollar reaches new record high in Turkey

    Report: The year-end exchange rate could reach 3.60 TRY / USD

    Baku. 2 December. REPORT.AZ/ US dollar has reached new record high at 3,5250 against Turkish lira. Report informs the reason for this was Turkish President Recep Tayyip Erdogan's statement a few minutes ago about the need to cut interest rates.

    Notably, in case of devaluation in macroeconomics, interest rate in country increased in order to attract interest in national currency.

    Also, "Moody's" international rating agency announced that it has removed assessment of Turkey's credit rating from its calendar.

    Analytical Group of Report forecasts after reaching 3.60 TRY / USD by the end of the year US dollar will decline in Turkey to 3.45 TRY / USD.

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