Bloomberg News

Is Investment Says Lira May Advance Against Euro-Dollar Basket

January 04, 2012

Jan. 4 (Bloomberg) -- Turkey’s lira may advance 4 percent against the dollar and euro basket this year as the central bank’s tight monetary policy makes lira assets more attractive for the carry trade, Is Investment said.

The Istanbul-based broker reduced its overweight call for Turkish stocks to hold and is more optimistic for bonds because Turkey offers highest interest rates among emerging markets after Brazil, the broker said in a written statement distributed to reporters at a conference.

--Editor: Steve Bryant

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

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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