Turkish central bank expects lira to be valued at 6.43 against dollar at yearend 2020

0
74
A teller holds Turkish lira banknotes at a currency exchange office in Istanbul on August 13, 2018. Turkey's troubled lira tumbled on August 13 to fresh record lows against the euro and dollar, piling pressure on stock markets on fears the country's crisis could spill over into the world economy. / AFP PHOTO / Yasin AKGUL

Turkey’s central bank has said it expects inflation will be 10.01 percent at the end of 2020, while economic growth will be 3.4 percent and the national currency will stand at 6.43 against the US dollar, the Diken news website reported.

The bank on Friday published its yearend forecasts based on a poll conducted with economy experts in January.

Turkish inflation in December year-on-year was 11.84 percent, indicating an unexpected rise after falling for two consecutive months, whereas the country’s economy grew 0.4 percent in the third quarter of 2019.

The lira’s value against the dollar stood at 5.87 at market close on Friday.

Despite showing signs of recovery from 2018’s currency crisis, when the lira lost 30 percent of its value against the dollar, the Turkish economy is still in a fragile state, according to observers.

Turkish Minute

LEAVE A REPLY

Please enter your comment!
Please enter your name here