Dollar could hit 39 Turkish liras by mid-2025, says Morgan Stanley

Morgan Stanley, the American investment bank, has issued a new forecast on the dollar exchange rate in Türkiye, suggesting that the dollar could potentially rise to ₺39.00 by mid-2025.

This updated forecast comes in response to recent remarks made by President Recep Tayyip Erdogan concerning interest rates and inflation, prompting Morgan Stanley to revise its projections.

Currently trading around ₺32.70 in the markets with a steady upward trajectory, Morgan Stanley’s latest economic outlook for Türkiye has garnered significant attention.

Meanwhile, according to the Turkish Central Bank’s Market Participants Survey for June 2024, expectations for the year-end dollar exchange rate have been adjusted downward, from ₺38.78 to ₺37.75. This revision reflects current sentiments and forecasts among market participants regarding the Turkish Lira’s performance against the dollar by the end of the year.