(Bloomberg) — the Turkish Lira is no longer the most risky emerging market currencies: this unwanted title now belongs to the ruble.
Prize a three-month put options on the Lira against the us dollar to the contracts “call” was lower than that of the ruble for the first time since mid-may.
Indicator risk reversal on the Lira fell to 3.8 percentage points to almost 12 in the midst of a currency crisis in Turkey in August. The fall accelerated after the Turkish Central Bank raised its key interest rate to 24 percent in September. Optimism of traders even more intensified after the United States canceled a number of sanctions following the decision of Ankara to release American pastor Andrew Brunson.
Meanwhile, the ruble is under pressure as oil prices fall, as investors fear that the US will toughen sanctions against Russia. Indicator risk reversal on Monday rose to a maximum of 4 Oct after the incident with the participation of Russian and Ukrainian warships in the sea of Azov.
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