MUFG believes that the Turkish lira will continue to decline to 9.55 Turkish liras per dollar a year from now, and will fall during the fourth quarter to 9.0500 Turkish liras per dollar.
The Turkish lira weakened over the past week, reaching 8.95 liras per US dollar, with the US dollar index rising due to the Fed’s announcement that a tightening date is imminent.
However, the Turkish lira weakened further as the central bank cut its interest rate by 100 points, to 18%, contrary to expectations, despite inflation rising to 19.25% in August.
The article: Will the Turkish lira continue to decline? It was written in Al Borsa newspaper.