Turkish lira undershooting fair value - global banking group

The Turkish lira is significantly below fair value at the moment and should strengthen over the next one to two years as Turkey's economy slows and exports gain strength, improving the country's balance of payments outlook, economists for the Institute of International Finance said on Wednesday.Speaking on a media conference call about market turbulence in Turkey and other emerging markets, IIF chief economist Robin Brooks said that fair value for the Turkish lira, based on macroeconomic fundame