Alarming forecast: How much will the dollar be at the end of the year?

The dollar has exceeded 30 TL against the Turkish Lira. There is curiosity about the level the dollar will reach. Analyst Eda Karadağ announced that year-end dollar exchange rate forecasts are at 40 TL.

Gedik Investment Consulting Deputy Manager Eda Karadağ emphasized that they have divided 2024 into two periods. Drawing attention to the impact of local elections on the economy, Karadağ stated the following:

As an institution, we are dividing 2024 into two periods. Considering the election uncertainty and the macroeconomic outlook in the first half of the year, we may follow a process where volatility and uncertainty in the domestic market are slightly higher. During this period, interest rates and interest-based products, which are positioned as alternatives to the stock market, can be utilized. In the second half of the year, with the disappearance of election uncertainty domestically, it can be expected that the pressure on the markets will also ease. The Central Bank of the Republic of Turkey's (TCMB) market-supporting steps, especially the start of the expected decline in inflation as of the second half of the year, will be a development that will also encourage foreign capital inflows. At this point, with the interest in the domestic stock market beginning to increase, an increase in demand for risky assets may also be observed. While our BIST-100 target as an institution is 10,300 points, it should be noted that this level may be updated depending on developments throughout the year.

News Source: 12punto