Investment adviser Marc Faber, nicknamed Dr. Doom, predicted that the Turkish lira would strengthen significantly in the near future.
According to Faber, the Turkish currency could soon reach 3.10 against the U.S. dollar. In recent weeks, the Turkish lira has been hovering at an exchange rate of about 3.50.
Faber also revealed that he did not expect to see Turkish lira stocks rise, simultaneously urging people not to expect an increase in Turkish lira-based stock quantity at the current stage.
"The money central banks printed went to the U.S. stocks, bonds, dollar and real estate. I expect this situation to turn around," Faber said.
Marc Faber is a Swiss investor based in Thailand and the publisher of the widely read monthly investment newsletter "The Gloom Boom & Doom Report," which highlights unusual investment opportunities.