US investment bank updates dollar forecast
Goldman Sachs has revised its dollar/TL forecast for the next 12 months. According to the statement, the 12-month exchange rate forecast has been raised from 42 to 45.
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US investment bank Goldman Sachs has raised its 12-month forecast for the dollar/TL exchange rate from 42 to 45. Analysts led by Kamakshya Trivedi stated in a note that the stabilization of the dollar/TL at the 38 level was a temporary measure.
The analysts noted that the rise in the exchange rate occurred earlier than expected to maintain the previous annual rate of depreciation. The note emphasized that reserves have increased and the risk of additional pressure on the exchange rate in the near term is low.
Furthermore, it was stated that foreign investors' positions have decreased due to high Turkish Lira interest rates and that local dollarization remains limited. The analysts projected that the lira's depreciation will gradually slow throughout the year and that it will perform better than in 2024.