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A $350 Million Turkey ETF Added Most Since 2018 as Lira Rallied

  • TUR got $25 million as steps to boost currency were unveiled
  • BIST 100 Index is down almost 20% in dollar terms this year
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An exchange-traded fund focused on Turkish stocks had its biggest daily inflow in more than three years last week, as government measures to shore up the nation’s battered currency prompted the biggest surge for the lira in decades.

The $354 million iShares MSCI Turkey ETF, known as TUR, received $25 million on Dec. 20, the most for any day since August 2018, according to data compiled by Bloomberg. But analysts are divided on whether investors see opportunity following the currency’s recent fall -- or whether brokers are creating the fund for those who want to bet against Turkish companies by selling it short.