Posted by meb at January 13th, 2009

Those investing in gold enjoyed the best return on their investments in Turkey over the course of 2008.

The Turkish Statistics Institute (TurkStat) yesterday disclosed the real rates of return of major investment instruments during 2008. The real rates take into account inflation linked to both the producer price index (PPI) and the consumer price index (CPI).

Investors in gold received the highest rate of return, 22.48 percent, once inflation was taken into account over the course of 2008. Those investing in the dollar in 2008 earned 19.21 percent on their outlays, as the dollar strengthened markedly against the YTL over the year. The euro rose 11.3 percent against the YTL and interest rates on YTL deposits got savers an average of 4.91 percent on deposit accounts. The İstanbul Stock Exchange (İMKB), which had brought the highest profit margins to investors in 2007, failed to perform in 2008. The stock market lost an average of 57.75 last year.

According to month-on-month real profit figures for December, the euro had the best return, 3.93 percent, after the effects of inflation were removed. Gold earned 3.12 percent, the stock market 2.32 percent and saving deposits gained 1.77 percent. The only losers in December were those who kept their savings tied solely to the dollar.
source: Today’s Zaman

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