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Forecast: USD rate in Turkey will be 3,20 TRY next year

Goldman Sachs: Turkey should increase interest rates on loans to prevent the weakening of lira

Baku. 23 April. REPORT.AZ/ US dollar may reach 3,20 TRY/USD by the end of 2016 in Turkey. Report informs, Goldman Sachs analysts commented analyzing the results of yesterday's meeting of the Monetary Policy Committee of the Central Bank of Turkey (TRCB).

TRCB didn't change the interest rate and only increased the reserve requirement ratio by 0.50 points at yesterday's meeting.

Goldman Sachs experts believe that, the decision of TRCB doesn't meet the expectations of the financial market and also doesn't support the national currency, which has weakened in recent months. According to analysts, in the coming days TRCB may decide to reduce the liquidity of the national currency and a significant increase in interest rates in order to prevent the weakening of the lira.

After yesterday's meeting US dollar increased from 2,68 TRY/USD to 2,72 TRY/USD.

Goldman Sachs predicts a rise in price of Turkish lira to 2,55 TRY/USD in the next 3 months, rise to 2,70 TRY/USD in the 6 months, up to 2,95 TRY/USD in the 12 months, and up to 3,20 TRY/USD by the end of 2016.

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