Reuter expects dollar TL exchange rate to reach 36 by end of 2024

According to a Reuters survey, the USD/TRY exchange rate is expected to reach 36 lira by the end of the year and 41.25 lira in 12 months. The survey, shared by CNBC-e, also anticipates that the Turkish lira will lose 5% of its value against the dollar by the end of the year.

Based on the poll of emerging market currencies, the dollar is expected to be at 34.63 lira in one month, 36 lira by the year’s end, 37.67 lira in six months, and 41.25 lira in 12 months.

Emerging market currencies, which suffered significant losses last year and in the first half of 2024, regained some value after the U.S. Federal Reserve (Fed) cut its policy rate by 50 basis points. However, the Fed is expected to cut rates by 25 basis points in the coming period, signaling that the upward trend in these currencies might be nearing its end.