- Analytics
- News and Tools
- Market News
- A reversal of fortunes for the Turkish Lira could be imminent – Wells Fargo
A reversal of fortunes for the Turkish Lira could be imminent – Wells Fargo
Economists at Wells Fargo discuss Turkish Lira (TRY) outlook.
Sentiment toward Türkiye can improve
To be clear, we still forecast a weaker Turkish currency over the course of our forecast horizon; however, we have scaled back the magnitude of that depreciation to reflect improving and more orthodox trends in policy.
After 21.50 percentage points of tightening, we are more confident that the direction of policy will be sustained and that sentiment toward Türkiye can improve, and foreign investor capital can follow in the near future.
We also believe credit rating agencies such as Moody's, S&P and Fitch may be close to upgrading Türkiye's sovereign credit rating, or at a minimum, revising outlooks to ‘positive,’ given the latest developments.
The story surrounding Türkiye is not quite outright positive just yet, and local political and geopolitical risks remain, but should the latest trends continue and credit rating revisions materialize, we could revise TRY forecasts as well.
USD/TRY – Q4-2023 28.50 Q1-2024 29.00 Q2-2024 29.00 Q3-2024 29.50 Q4-2024 30.00 Q1-2025 30.50
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
