Azerbaijan, Baku, September 6 / Trend, A. Tagiyeva/
The strengthening of the Dollar against the Turkish lira in the last year by 12.7 percent did not have much impact on the economy of Turkey, the Turkish Ministry of Economy told Trend on Wednesday.
"Appreciation of the U.S. dollar against the lira, though slight, had an impact on the Turkish economy. The trend affected the export- import operations of Turkey with other countries," the Ministry told Trend.
According to the source, the reason for the sharp rise in the dollar is the political situation in the region, and it is not at all related to the situation in Turkey. That is why the change in the dollar has no effect on the inflow of foreign investment in Turkey.
The growth rate of consumer prices in August 2013 amounted to 8.17 percent compared to the same period last year.
"The cause of dollar price increase is a tense situation in the region. Information on ballistic missile launches on Syria immediately reflected in the dollar exchange rate in Turkey and led to another surge (1.5 percent )," the Ministry said.
As of September 4, 2013, the exchange rate was 2.0415 TRY / USD, while on September 3 it was 2.0115 TRY / USD. Last year the country's official exchange rate was set at 1.8119 TRY / USD.
As noted by the ministry, currency is controlled by the Central Bank and the Ministry of Economy of Turkey. In order to avoid excessive appreciation, the Central Bank intervened in the foreign exchange market.
It should be noted that the trend of dollar price increase against the Turkish lira has been observed since early summer 2013.