Skip to content
Subscriber Only

World-Leading Lira Rally Turns Bank Analysts Into Bulls

  • The currency has led global gains since November shakeup
  • Strategists are betting on further appreciation in near term
Turkish Stocks Slump as Global Death Toll From Virus Increases
Photographer: Kerem Uzel/Bloomberg
Updated on

The Turkish lira’s hot start to 2021 is even winning over some skeptics who are betting on further gains in the months ahead.

The currency has jumped a world-leading 23% against the dollar since President Recep Tayyip Erdogan overhauled his economic policy team in early November. That shakeup buoyed investor optimism that Ankara would take a more orthodox approach to managing one of the Middle East’s largest economies.