Bloomberg News

Lira 3-Month Forecast 1.95 Per Dollar at Goldman on EU Concern

December 01, 2011

Dec. 1 (Bloomberg) -- The lira may weaken to 1.95 per dollar in three months, Goldman Sachs Group Inc. said, revising its forecast from a previous 1.90 per dollar due to “the deterioration in the outlook for Europe.”

The lira is expected to decline to 1.90 per dollar in six months compared with a previous estimate of 1.70, Goldman said in an e-mailed report today. The forecast for the lira in 12 months time was changed to 1.75 from 1.65, it said.

The currency fell 0.2 percent to 1.8328 per dollar at 9:43 a.m. in Istanbul.

To contact the reporter on this story: Mark Bentley in Istanbul at mbentley3@bloomberg.net

To contact the editor responsible for this story: Aydan Eksin at aeksin@bloomberg.net


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