Economy in Turkey: Deutsche Bank raises its year-end dollar/TL expectation

Deutsche Bank has raised its dollar/TL expectation for the end of 2023, from 27 to 32. The exchange rate, which was suppressed before the May 28 election, had been released after the election. The dollar/TL exchange rate, which was below 20 before the election, is currently at 27. The euro exchange rate also rose from 21.4 to 30 in two months.

International institutions are also updating their dollar exchange rate forecasts due to Turkey’s policy change.

The British-based bank HSBC had increased its dollar/TL expectation from 27 to 29 for the end of 2023 and to 32 for the end of 2024.

DEUTSCHE BANK CHANGES ITS EXPECTATION

According to Bloomberg, Deutsche Bank has raised its dollar/TL expectation for the end of 2023 from 27 to 32. The bank’s forecast for the end of 2024 was 35.