Goldman Sachs has maintained its projections for the USD/TRY exchange rate, which is currently trading around 40. According to the bank’s forecast, the exchange rate is expected to rise to 45 over the next 12 months.
In its latest report, the American investment bank reaffirmed its upward outlook on the USD/TRY exchange rate.
As of the end of the week, the dollar/TRY pair closed at 40.22. Goldman Sachs kept its 3-month forecast at 41, its 6-month forecast at 43, and its 12-month projection at 45.
Considering the forecast of 45, the bank anticipates a 12.5% increase in the exchange rate over the coming year.
Goldman Sachs had previously published the same projections—41 for 3 months, 43 for 6 months, and 45 for 12 months—in its May 23 Global FX report. While the forecasts remain unchanged, the dollar/TRY rate has already increased by 13.72% since the beginning of the year.
