Turkey's Central Bank bumped up its year-end lira-dollar exchange rate projection from 7.95 liras on the unit to 8.57 liras, an official statement by the agency said on April 9.
The Central Bank survey of some 60 industry representatives and professionals revealed that expectations for year-end projections would surpass initial guesses, while a 12-month projection of the greenback exchange rate was placed at 8.78 liras on the unit.
Meanwhile, the projected growth in Gross Domestic Product (GDP) was lowered from 4.4 percent to 4.3 percent, while the projected growth in GDP for 2022 was placed at 4.2 percent.
The Central Bank also bumped up its 12-month Consumer Price Index (CPI) projection from 10.47 percent to 11.26 percent, and hiked up a 24-month CPI projection from 9.18 percent to 9.55 percent.
Turkey's lira was muted for the past week, with investors remaining wary over the country's financial credibility following major shifts in Central Bank governance over the past two years.