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Turkey Lira Becoming a ‘Realistic Investment’ Once More, T. Rowe Says
After years of avoiding investing in Turkey’s volatile currency, Leonard Kwan is looking to trade the lira once more, on expectations orthodox monetary policy is making a comeback. The lira is “entering the area where it becomes a realistic investment destination once again,” said Kwan, a Hong Kong-based money manager at T. Rowe Price Group Inc. which oversees $1.3 trillion. “On quite a few fronts, they’ve pivoted toward orthodoxy. Key for us at this point is the extent to which delivery of orthodoxy will be realized.” Kwan’s views come at a crucial time for Turkey’s $900 billion economy: analysts are ... (full story)