Turkey's lira was little-changed at 6.8 against the USD in thin trading on Monday, as tensions between the US and China sent investors rushing for safety after Beijing announced it was planning to impose a new security law on Hong Kong following last year's pro-democracy unrest, while a US official warned that the move could lead to US sanctions. On the monetary policy front, Turkey's central bank lowered last week interest rates by 50 bps as widely expected to support the economy hurt by the COVID-19 pandemic, and pledged to maintain market stability.
Historically, the Turkish Lira reached an all time high of 7.27 in May of 2020. Turkish Lira - data, forecasts, historical chart - was last updated on May of 2020.
The Turkish Lira is expected to trade at 6.89 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 7.13 in 12 months time.