Fri, Mar 7 2008, 14:13 GMT
by
Lars Christensen
,
Lars Rasmussen
- Danske Bank A/S
|
View company's profile
In recent days the Turkish lira has been under some selling pressures. The weakening of the lira has not been driven by local news, but rather by international investors scaling down risk. This is putting the highrisk lira under pressure.
Despite Turkeys large external imbalances, the lira has been extremely resilient to the worsening of global credit conditions. This obviously has to be seen in the light of the relatively high interest rates that provide some protection to the lira.
Danske Bank A/S
danskeresearch@danskebank.com
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