Goldman Sachs is forecasting a dollar-lira rate of 2.2, representing a 15 percent mini-devaluation from the current level of 1.95.
Earlier this week, the Turkish central bank increased interest rates in a bid to stop the fall of the lira, which is approaching the psychologically crucial hurdle of a dollar-lira rate of 2.00.
More specifically, examining the relations between oil price, lira-dollar exchange rate and individual agricultural prices (wheat, maize, cotton, soybeans and sunflower) using monthly data from January 1994 to March 2010, they provide evidence for the neutrality of these prices to oil price changes.
Turkish Lira exchange rate against the U.S. dollar over the period July 1 to August 17 , 2018
Expenditure was calculated in US dollars (exchange rate at the time of the study, 1.5 Turkish liras per US dollar).
Thereafter, the budget thus voted is protected from further movements in the Lira/US Dollar rate of exchange via a forward purchase contract which allows the Organization to meet future needs for Euro at, or close to, the rate at which the budget is approved.
Other late dollar rates in New York, compared with late rates Tuesday, included: 1.15245 Swiss francs, up from 1.5215; 5.7805 French francs, down from 5.7850; 1,263 Italian lire, down from 1,264.50, and 1.1733 Canadian dollars, down from 1.1761.
Other late dollar rates in New York, compared with late rates Friday, included: 1.4860 Swiss francs, up from 1.4740; 5.7140 French francs, up from 5.6825; 1,248.50 Italian lire, up from 1,241.50, and 1.19405 Canadian dollars, down from 1.19825.
Other late dollar rates in Europe, compared with late rates Tuesday, included: 1.5255 Swiss francs, down from 1.5275; 5.7877 French francs, down from 5.7915; 1.9290 Dutch guilders, down from 1.9312; 1,267 Italian lire, unchanged, and 1.1740 Canadian dollars, down from 1.1775.
Late dollar rates in New York, compared with late rates Thursday, included: 1.6385 West German marks, down from 1.6408; 1.4043 Swiss francs, down from 1.4060; 5.4965 French francs, down from 5.5045; 1,200.00 Italian lire, down from 1,201.75, and 1.15495 Canadian dollars, up from 1.15235.
Other late dollar rates in New York, compared with late Monday rates, included: 1.5560 German marks, up from 1.5505; 1.2860 Swiss francs, up from 1.2735; 5.2175 French francs, up from 5.2010; 1,149.25 Italian lire, down from 1,149.50, and 1.1416 Canadian dollars, down from 1.1432.
