Lira

This tag is associated with 4 posts

Turkey’s Monetary Policy Feud Stokes Financial Risk

Posted by EM_Equity ⋅ April 6, 2015 ⋅ Leave a comment

By Etienne Lepers While Turkey – with its ceaselessly falling currency – is struggling with the same global forces as other emerging markets, an internal struggle between President Erdoğan, Central Bank Govenor Erdem and deputy PM for the economy Ali Babacan is undermining Turkish economic vitality. Interest and currency rates have become subject to inter-departmental feuding generating significant financial uncertainty. Over the … Continue reading →

More De-Dollarization: Turkey Looks To Settle Payments With Russia In Local Currencies

Posted by EM_Equity ⋅ March 31, 2015 ⋅ 2 Comments

Turkey’s Ministry of Economy is considering a move to settle payments with Russia by using local currencies for major investment deals, Russia’s TASS news agency reports. “We would like payments in rubles and lira to be introduced at least for the larger investment projects in Russia and Turkey,” Turkey’s Deputy Economy Minister Adnan Yyldyrm, said during a joint … Continue reading →

Can Turkey ETF Survive Political Woes?

Posted by EM_Equity ⋅ March 10, 2015 ⋅ Leave a comment

By Zacks Equity Research iShares MSCI Turkey ETF (TUR) – the sole ETF focusing on Turkey – saw a terrible start to the year and is in fact the worst performing ETF in the emerging equities space this year. TUR has plunged roughly 17% this year as against flat returns by the broad emerging market funds … Continue reading →

Moscow And Ankara To Trade In National Currencies – DenizBank

Posted by ETFalpha ⋅ February 9, 2015 ⋅ Leave a comment

Russia and Turkey are working towards trade payments in national currencies, according to the president and CEO of Turkey’s DenizBank, Hakan Ates. “We are ready to do everything to facilitate the transition to payments in national currencies. Such a transition is possible but our central banks have to make this decision. We’re already working in … Continue reading →