ANKARA: The dollar-euro parity, which is expected to hit an all-time law, is causing anxiety among exporters. According to the calculations of the Turkish Exporters Assembly (TİM), there will be a loss of $8 billion due to the decrease in the dollar-euro parity. The Chairman of the TİM, Mehmet Büyükekşi, noted that the foreign exchange rate is currently adversely affecting exporters because the euro is decreasing against the dollar almost on a daily basis.
“More than 45 percent of our exports go to the European Union. Therefore, we are expecting a loss of around $8 billion in 2015,” Büyükekşi said. Highlighting that Turkey’s exports with E.U. countries increased by nine percent in 2014 compared to the previous year, reaching $67.6 billion, Büyükekçi further underscored that 45 percent of Turkey’s export transactions are completed in euros and 47 percent are completed in U.S. dollars, while 64 percent of Turkey’s imports are completed in dollars and 30 percent in euros. Therefore, for the euro to be valued less against the dollar is adversely affecting Turkish exporters.
The dollar exchange rate has reached its highest level against all other currencies within the last nine months since the beginning of January, and Büyükekşi emphasized the importance of taking precautions against sudden fluctuations in foreign exchange rates. As the European Central Bank has increased its monetary expansion policy, the eurozone and the 28 European country-bloc’s growth might increase only within the next year.
