According to Commerzbank, the USDTRY is expected to gradually increase from its current value of 26.0676 to approximately 30.00 by the year 2024.

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USDTRY Chart by TradingView

The Turkish Lira broke out of its tight range after this year’s election, which saw President Tayyip Erdogan retain his power. Economists at Commerzbank analyze TRY for the next year.

Source: Commerzbank Research

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