After the victory of Recep Tayyip Erdogan in the Turkish presidential elections, the lira literally collapsed in value. However, the collapse will not end there, experts believe.
According to the Morgan Stanley forecast, in the future the exchange rate risks to collapse even more. The Turkish lira could drop by 29% to 26 lira per dollar. As stressed by analysts, the fall will happen earlier than predicted. The end of the year would be around 28 lira per dollar. This will happen if the current monetary policy in Turkey will not change.
As of 11:15 Moscow time, the U.S. currency was trading at 20.06 lira.