USD/TRY forecast rises to 60.77
Exchange rate expectations were revised upward in the Central Bank of the Republic of Türkiye's (CBRT) November Market Participants Survey.
The 12-month-ahead USD/TRY forecast increased from 59.26 to 60.77, while the year-end 2026 exchange rate projection rose from 51.55 to 51.61. The survey, based on responses from 70 participants representing the real and financial sectors as well as financial professionals, also showed that year-end inflation expectations climbed from 29.63% to 30.04%.
The expected policy rate for the December Monetary Policy Committee meeting was recorded at 35%. Participants' economic growth forecasts remained unchanged at 2.9% for 2026 and 3.9% for 2027. The upward revisions in exchange rate and inflation expectations indicated that market participants were closely monitoring pricing risks in the period ahead. The figures reflect survey participants' forecasts rather than official exchange rate targets set by the CBRT.