Deutsche Bank: “The Turkish lira will fall to a record level. One dollar will see 32 TL.”

2023-08-05 10:52:48

BERLIN. The policies of the Central Bank of the Republic of Turkey and the announcement of consumer inflation as 48 percent were interpreted as the Turkish lira will fall even more in the world markets. HSBC experts said that the Turkish lira will regress to 29 dollars at the end of the year.

Another bad news came from the German Bank after HSBC revised its year-end Dollar-TL expectation upwards and increased it to 29 liras. German Deutsche Bank analysts made a prediction of 32 lira for the dollar. It increased its end of 2024 forecast to 35 TL.

DEUTSCHE BANK UPGRADED ITS ESTIMATE

German Deutsche Bank analysts increased their forecasts for the dollar/TL from 27 to 32 for the end of 2023. The bank expects the rate to rise to 35 TL by the end of 2024.

Deutsche Bank analysts cited the price hikes and the “difficulties faced by policymakers in returning inflation to a more sustainable path.”

The Central Bank’s policies and the announcement of consumer inflation as 48 percent were interpreted as the Turkish lira would fall even more in world markets.

According to Bloomberg, while consumer inflation is expected to exceed 50 percent, it is estimated that the decrease in the Turkish lira will occur even faster after the tourism season.