Deutsche Bank: The pressure on the Turkish lira has not eased yet.

On March 27, Jin10 reported that Tata Gosh, an analyst at Commerzbank, pointed out in a report that the pressure on the Turkish lira has not yet eased, and officials may be trying to prevent the lira from falling further through strict controls and intervention measures. He stated that policymakers seem to be defending the exchange rate of the dollar against the Turkish lira at around 38 as a “bottom line.” He also mentioned that the scale of forex reserve losses in such intervention measures is “neither ideal nor sustainable.” Gosh stated that unless the turmoil triggered by the detention of Turkey’s President Erdogan’s rival, Ekrem, ends, the lira is likely to soon break through the current defense line and depreciate significantly.