USD rate exceeds again 3.70 TRY in Turkey

Baku. 2 March. REPORT.AZ/ US Dollar rate in Turkey exceeded 3.70/USD level. 

Report informs, on January 11, 2017, US dollar rate reached historical record level (3,9423 TRY/USD) and then declined to the level of 3,5552 TRY/USD on February 23 due to the impact of monetary tightening and efficient repo auctions by Central Bank of Turkey (CBT). 

Report informs, rise of the dollar is due to the strengthening of probabilities of increase in interest rates by US Federal Reserve System (Fed) at the next meeting to be held on March 14-15. This presumption ledto the strengthening of dollar against almost all currencies in global foreign exchange market.

Report informs, dollar rate in Turkey in coming days expected to rise to the level of 3.75 TRY/USD and then decline to the level of 3.55 TRY/USD. In 2017 US dollar expected to fluctuate between 3,50-3,80 TRY/USD.