What will US Dollar TL rate be now that Mehmet SIMSEK is appointed Finance Minister of Turkey?

Reputable financial institutions have started updating their forecasts for the Turkish lira, after the election in Turkey. A prominent bank predicted that the dollar/TL exchange rate would rise to 28 after 12 months.

US investment bank Goldman Sachs has revised its forecast for the Turkish lira following the renewal of President Recep Tayyip Erdogan’s cabinet and increased its dollar/TL forecast from 22 to 28 for 12 months from now.

According to experts, Erdogan signaled that the newly elected government would return to more orthodox economic policies when he appointed Mehmet Simsek to his cabinet yesterday.

According to a Goldman Sachs note published after Erdogan announced his new senior team it said “We believe that the appointment of Mehmet Simsek as the new treasury and finance minister increases the likelihood of monetary policy shifting in a more orthodox direction.”