Commerzbank said the dollar/Turkish lira exchange rate could move toward 44 by the end of the first quarter of the year.
In an assessment of current market conditions, Commerzbank said that further interest rate cuts would not support the Turkish lira, although it expects the Central Bank of the Republic of Türkiye to deliver a 150 basis point rate cut at its January meeting.
The bank also forecast that the USD/TRY pair could climb toward the 44 level by the end of the quarter.
The dollar/TRY is currently trading sideways at around 43.13.
