Goldman Sachs Predicts TL Will Continue the Weakening

Goldman Sachs Predicts TL Will Continue the Weakening

Goldman Sachs, one of the largest banks in the world, predicts that the TL will continue to weaken. Goldman Sachs analysts predict that the depreciation in the Turkish lira will continue. Goldman Sachs Group Inc., predicting that the depreciation of the Turkish Lira will continue, warned the markets. Considering the illiquidity in August, the risks of harsher movements in local assets this time continue to increase. The Turkish lira fell more than 4 percent against the dollar this month, making it the second worst performing currency in the world. TL's annual loss exceeded 18 percent. Goldman Sachs increased its 3, 6 and 12-month forecasts to 7.75, 8 and 8.25 levels in the Dollar / TL exchange rate. His previous estimates were 7, 7.50 and 8, respectively. In the report prepared by Goldman analysts led by Zach Pandl, `` Risks in dollar / TL are upward in the short term, given the growing foreign currency deposits of the locals and deteriorating inflation outlook, limited reserves, external financing deficit and an unusual mix of policies. '' . In the report, which pointed out that the effect of the decrease in TL on other emerging markets will be lower compared to 2018, it is still an obstacle for emerging markets that pay high interest rates.