Bloomberg News

Lira ‘Good Buying Opportunity’ in Medium-Term, Nordea Says

June 22, 2011

June 22 (Bloomberg) -- The lira is a “good buying opportunity” for investors on “a medium to long-term perspective” on prospects for a rate increase, said Elisabeth Andreew, chief analyst at Nordea AB in Copenhagen.

Nordea “recommends forwards for hedging lira expenses,” Andreew said in an e-mailed report to investors today. “Revenues could be hedged by zero-cost strategies such as participating forwards, so as to be able to participate in a strengthening of the lira.”

The lira gained 0.2 percent to 1.6095 per dollar at 9:47 p.m., rising for the second day.

The central bank may increase interest rates from a record low of 6.25 percent next month, she said.

To contact the reporter on this story: Selcuk Gokoluk in Istanbul at sgokoluk@bloomberg.net

To contact the editor responsible for this story: Mark Bentley at mbentley3@bloomberg.net


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