SocGen’s Anne Says Turkish Lira Cheapest in Emerging Markets
By Selcuk Gokoluk and Benjamin Harvey November 13, 2013
Turkey’s lira is the most undervalued currency in emerging markets and will strengthen after the “temporary shock” of U.S. stimulus tapering is over, according to Societe Generale SA. (GLE)
“The shock emerging markets are going to see next year is only temporary,” Benoit Anne, the head of emerging-markets strategy at SocGen, said in an interview in Istanbul today. “Turkey was excessively penalized by the markets and the Turkish lira, tactically, I’d buy it.”
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