The Turkish lira will continue to depreciate against the Azerbaijani manat until 2029, according to the country forecast by the Economist Intelligence Unit (EIU), the research and analysis division of The Economist Group, Paralel.Az-Economics reports.

According to the EIU forecast, the Turkish lira will depreciate by around 24% against the manat over the next four years. The exchange rate of the Turkish lira is projected to be 0.050 AZN for 2024, 0,042 AZN for 2025, and 0,038 AZN for 2026, 2027, and 2028.

Note that the Turkish lira continues to depreciate against other currencies as well. TL has fallen to a level of 34 against the dollar. According to the latest exchange rate announced by the Central Bank of Azerbaijan, the Turkish lira is trading at 0.0498 manat.