13.02.2025 10:30
Bank of America and Goldman Sachs Group commented that the US dollar may experience a depreciation due to the effects of global trade wars. Both banks warned their global investors to diversify their investment portfolios to include the Turkish lira.
As the effects of the global trade war, led by the USA and involving China and Europe, continue to grow day by day, two international banks have made notable suggestions regarding the Turkish lira. Investors have been advised to include the TL in their investment basket.
MAJOR BANKS RECOMMENDED TURKISH LIRA
Bank of America (BofA) mentioned the comment that additional tax tariffs in trade wars could put pressure on the dollar, made by US President Donald Trump. It also included predictions that there could be a pullback in the dollar by 2025.
Another global bank, Goldman Sachs Group, also advised investors to add the Turkish lira, along with the Nigerian naira, Egyptian pound, and Kenyan shilling, to their investment basket to be less affected by the impact of the global war. It noted that the value of these currencies is influenced by local factors and therefore would be less affected by global trade wars.