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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/forecasts-for-the-turkish-liras-depreciation-against-the-dollar-in-2024/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Forecasts for the Turkish Lira’s Depreciation Against the Dollar in 2024</a><br></p>
<p style="text-align: justify">In 2024, almost everyone is discussing where the <strong>Dollar/TL</strong> exchange rate is headed. Predictions have started to emerge at this point. Forecasts from seven different foreign institutions all indicate an upward trend, suggesting that the Turkish Lira will continue to lose value in 2024. Let’s look at the Dollar/TL predictions from these foreign institutions.</p>
<h2 style="text-align: justify" id="hsbc-and-deutsche-bank-s-dollar-forecast">HSBC and Deutsche Bank’s Dollar Forecast</h2>
<p style="text-align: justify">The UK-based banking giant <strong>HSBC</strong> predicts that the dollar will reach 33 TL towards the end of 2024. This forecast is the lowest among the predictions.</p>
<p style="text-align: justify">On the other hand, the Germany-based banking giant <strong>Deutsche Bank</strong> indicates that the dollar will be at 38 TL at the end of the year. This forecast is the second most optimistic among the figures.</p>
<p style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="wp-image-297985 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/dolar-tl-kuru-cointurk.png" alt="" width="907" height="681"></p>
<h2 style="text-align: justify" id="morgan-stanley-and-citibank-s-dollar-tl-forecast">Morgan Stanley and Citibank’s Dollar/TL Forecast</h2>
<p style="text-align: justify">Morgan Stanley agrees with <strong>Deutsche Bank</strong> in predicting that the dollar will be at 38 TL at the end of 2024. On the other hand, Citibank expects the dollar to gain even more value against the TL, with a forecast of 40 TL.</p>
<p style="text-align: justify">The fact that forecasts for the future price of the dollar now include figures above 40 TL indicates the peak of the upward-focused view. Next up are predictions from three other foreign institutions.</p>
<h2 style="text-align: justify" id="sp-goldman-sachs-and-barclays-year-end-2024-dollar-tl-forecast">S&amp;P, Goldman Sachs, and Barclays’ Year-End 2024 Dollar/TL Forecast</h2>
<p style="text-align: justify">Standard &amp; Poor’s believes the dollar will be at 40 TL at the end of the year, a prediction that aligns with Citibank’s. The multinational American investment bank and <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">financial</a> services company <strong>Goldman Sachs</strong> has set a target of 40.70 TL for the dollar at the end of 2024.</p>
<p style="text-align: justify">Lastly, the multinational British banking giant based in London, <strong>Barclays</strong>, has set a price target of 43.80 TL for the end of 2024. This figure is the highest price target for the year.</p>
<h2 style="text-align: justify" id="what-does-the-depreciation-of-the-turkish-lira-mean">What Does the Depreciation of the Turkish Lira Mean?</h2>
<p style="text-align: justify">The possibility of the Turkish Lira depreciating against the dollar by the end of 2024 and the price predictions of seven different foreign institutions pointing to this scenario have implications. This situation could be indicative of economic challenges or uncertainties in Turkey, such as high inflation and fiscal deficits, and could lead investors to prefer currencies like the US dollar.</p>
<p style="text-align: justify">The depreciation of the TL could contribute to inflationary pressures in Turkey by increasing the cost of imports and potentially affect individuals’ purchasing power. Moreover, significant depreciation could raise concerns about the country’s economic health and its ability to pay foreign currency-denominated external debts.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/forecasts-for-the-turkish-liras-depreciation-against-the-dollar-in-2024/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Forecasts for the Turkish Lira’s Depreciation Against the Dollar in 2024</a></h5>

Forecasts for the Turkish Lira’s Depreciation Against the Dollar in 2024

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