Denmark-based Danske Bank has announced its new forecasts for the trajectory of the dollar, euro, and sterling against the Turkish Lira for the next 1, 3, 6, and 12 months. According to the bank's report, the depreciation of the TL will continue in the coming period.
48 TL SCENARIO FOR DOLLAR/TL
For the dollar/TL, which is currently trading at the 40.91 level, Danske Bank stated that levels of 41.50 in one month, 42.70 in three months, 44.60 in six months, and 48.20 in 12 months will be seen.
59 TL FORECAST FOR EURO/TL
The euro/TL is currently around 47.66. The bank expects the euro/TL to rise to 48.6 in 1 month, 50.8 in 3 months, 54.0 in 6 months, and 59.0 in 12 months.
RISE IN STERLING/TL TO ACCELERATE
For the sterling/TL, which is at the 55.32 level, Danske Bank has predicted a quite sharp rise. Accordingly, it is estimated that the sterling will reach 55.81 in 1 month, 57.74 in 3 months, 60.4 in 6 months, and 66.61 in 12 months.
In a report published in July, the US investment bank JPMorgan stated that the Turkish Lira would continue to lose value in the second half of the year, but that the pace would slow down. The bank projects that the dollar/TL will remain at the 45.5 level for 2025.
Germany-based Commerzbank, meanwhile, announced that they expect the euro/TL to rise to 51.04 and the dollar/TL to 44 by the end of 2025.
LONG-TERM OUTLOOK FROM S&P
S&P Global economists had shared their long-term projections in previous reports. Accordingly, the dollar/TL is projected to reach 43.0 in 2025, 48.0 in 2026, 52.0 in 2027, and 55.0 in 2028.
News Source: 12punto
