Macro Man: Emerging Market FX Questions
Having heard many questions being asked about EMFX (most of which have been answered by new Armchair EM Generals using their favourite tools of rearview mirrors and extrapolationist rulers), we thought we would ask some more important ones.If you had 200 USDs worth of Turkish Lira in your hand would you :– Look at them as if someone had placed a turd in your hand screaming “Arrgh!”- Place them in a Turkish Bank and watch your savings grow by a newly exciting 12% p/a.- Buy corporate bonds in Turkish company Arçelik (controlled by Koc Holding) and display them amusingly on your toilet wall.- Convert them to USD and find you’ve now only got $100.- Buy a small coffee in Bodrum and have to cover the difference …
Having heard many questions being asked about EMFX (most of which have been answered by new Armchair EM Generals using their favourite tools of rearview mirrors and extrapolationist rulers), we thought we would ask …
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Macro Man: Emerging Market FX Questions
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