Analysts at Morgan Stanley have assumed that if incumbent Turkish President Recep Tayyip Erdogan is elected, the lira will fall by about 40% against the dollar by the end of the year. In this respect writer Bloomberg.
The publication says that the lira’s depreciation against the dollar will occur against the backdrop of maintaining the low interest rates that Erdogan advocates. According to Morgan Stanley analysts, if Turkey does not change its approach to its current monetary policy, the dollar may cost about 28 liras by the end of 2023.
As of 12:14 Moscow time, the US dollar/Turkish lira parity was trading at 20,900 lira per dollar on the international Forex market. Compared to the beginning of trading, the lira fell 1.05%.
Sunday, May 29 Erdogan to win He gets 52% of the votes in the second preference in the presidential elections in Turkey. Erdogan, who said at a rally in Ankara that price increases in the country were one of the most important problems, promised to reduce inflation. According to Erdoğan, this requires lowering the refinancing interest rate and raising the interest rate for the world’s Central Banks to combat rising prices. Erdogan noted that the interest rate has now been lowered to 8.5 percent.
It was previously reported that annual inflation in Turkey fell from 50.5% to 43.68% in April 2023.