Turkey's lira weakened slightly to 6.86 to the USD as a surge in new coronavirus cases in some parts of the world raised doubts over the global economic recovery. On the domestic front, Ankara completed its reopening efforts by allowing wedding halls, theaters and internet cafes to restart operations from July 1st even as the number of people infected with the virus continues to rise sharply. The lira has depreciated more than 15% against the greenback since the start of the year, hitting a record low of 7.2 in early May, as investors dumped riskier currencies amid fears of the deepest global recession since the Second World War.
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 July of 2020.
The Turkish Lira is expected to trade at 6.94 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 7.18 in 12 months time.