Financial analysts at TD Securities expect a further sharp depreciation of the Turkish lira.
As they stated, speaking to FXStreet, they predict that the dollar / pound exchange rate will exceed the level of 20 in the second quarter of the year.
“We believe that the exchange rate will rise to 16.25 by the end of the first quarter and will exceed 20 in the second quarter. However, this is the time when we expect the Central Bank of Turkey to start tightening its policy, which will help reduce the exchange rate around 19 by the end of the 2nd quarter “.
“The pound may continue to appreciate gradually over the rest of 2022, if we assume that no more policy mistakes will be made,” analysts said, adding: “From 2023 onwards, however, policy mistakes are still possible. to put the Turkish pound on a path of further weakening “.
Petros Kranias
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