HSBC's dollar and euro exchange rate estimates for the end of 2024 have been announced.

◻️HSBC predicted in its latest report that the US dollar will be 36 TL and the euro will be 37.8 TL by the end of 2024.

◼️The bank predicted that the Central Bank of the Republic of Turkey (TCMB) will make its first interest rate cut in the first quarter of 2025 and that the interest rate will be 50% by the end of 2024.

◻️The report stated that the interest rate is expected to fall to 45% in the first quarter of 2025 and 40% in the second quarter. In addition, HSBC drew attention to the potential for the Turkish lira to gain value.

◼️The bank emphasized that no change is expected in its policy approach. It was also stated that the bank has a positive expectation for the TL in the medium term.

-Ekotürk