Turkish lira woes spill over to other emerging-market ETFs
Seeking Alpha
Published Aug 13, 2018 11:51AM ET
Turkish lira woes spill over to other emerging-market ETFs
- The plummeting Turkish lira is taking a toll on many emerging markets, underscoring the higher risk of investing in markets where the value of their currency can be vulnerable.
- The Turkish lira falls 6.8% against the U.S. dollar, now trading for 6.9 lira to the dollar. Year-to date, it's down 45% against the U.S. dollar. The stronger the dollar, the more difficult it can be for countries with dollar-denominated debt to pay the interest on their debt.
- The iShares MSCI Turkey ETF (TUR -10.3%) Emerging Markets ETFs has fallen as much as 11% Monday and as much as 32% since July 31.
- Other emerging market ETFs on the downswing Monday are VanEck Vectors Indonesia ETF (IDX -3.7%), Global X MSCI Argentina ETF (ARGT -2.5%), Invesco India ETF (PIN -1.6%), and iShares MSCI South Africa ETF (EZA -2%).
- ETFs: EEM, VWO, EMB, IEMG, EDC, PCY, EDF, SCHE, EDZ, EDI, TEI, EMLC, EDD, VWOB, EMD, ELD, EMF, MSD, MSF, ADRE, EEV, EUM, EET, SPEM, LEMB, EBND, EMAG, XSOE, DBEM, FEM, HEEM, EMSH, EWEM, ROAM, ESGE, EDBI, EMLB, FLQE, KEMP,
- Previously: Stocks shake off Turkey worries to start in the green (Aug. 13)
- Now read: A Historical Perspective Into Turkey's Crisis And What It Means For Investors In iShares MSCI Turkey ETF
Original article
Get The News You Want
Written By: Seeking Alpha
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.