FxWirePro: Daily Commodity Tracker - 21st March, 2022 
In late April, in an article named, “FxWirePro: Turkish Lira to depreciate another 10 percent against USD”, available at https://www.econotimes.com/FxWirePro-Turkish-Lira-to-depreciate-another-10-percent-against-USD-1276314 we suggested that Turkish lira, which,
“After bottoming around 4.07 area against the USD in December 2016, Turkish Lira continued to strengthen on the back of a weaker dollar and in July last year it reached as high as 3.88 per USD. However, as the domestic inflation rate adds pressure on the central bank to raise rates further, which has already been pushed to 8 percent and as Turkey’s relations with the other NATO members, as well as the European Union worsens Lira has steadily been weakening and earlier this month reached as low as 4.19 per USD.”
Based on our calculations we suggested that Turkish Lira, which was then trading at 4.07 per USD would depreciate another 10 percent.
Turkish Lira has further depreciated since our call and currently trading at 4.46 per USD, very close to our 10 percent target of 4.48 per USD and we would like to increase our target to 4.63 per USD based on the latest calculations.
