Turkish lira, mmm...

We all have heard the emerging markets are done. Most of the analysts don't recommend them at all. However we don't think so. Popular knowledge: if the problem is the national debt in Western countries, the ones with less debt will survive better. Of course everyone will be damage, but mainly the ones with tons of debt.

One of this "awful" places to invest according to the main street financial media is Turkey. I like Turkey, though. I love the country, even I like what its Central Bank is doing (buying more gold). When they recently suffered a strong attack to their currency, they inmediately raised rates (link here). It's one of the few countries who pays double figures...

The chart we show today tracks the cross EUR/TRY, you know the higher the curve, the stronger the euro, the weaker the Turkish lira. We don't know when the euro is going to stop soaring, however, just as a rough estimate, it starts making sense to buy properties, stocks, businesses... in Turkey with our strong euros.

Holding a deposit in TRY can be riskier even though a 12% yield can be really attractive.

Again the future is uncertain, but apart from the political situation, Turkey doesn't show any terrrible economic figures. It's just a bet on the country.

Recommended reading:

How to Buy Real Estate Overseas