Lira to depreciate, report says
The Turkish Lira should correct to 2.1 per dollar, says Royal Bank of Scotland Group.
Investors should buy Turkish five-year credit default swaps or sell liras, according to Royal Bank of Scotland Group citing a record current account deficit, external financing needs of more than $200 billion next year and accelerating inflation.
The Central Bank is more focused on delivering growth than low inflation, the bank said in an emailed report over the weekend in an 2012 outlook.