Unless you are planning to travel to Turkey, buying Turkish lira is a ridiculous speculation.
It is not a major currency, so expensive to trade. It is so volatile and unpredictable that even currency experts would shy away. It would be insane for a novice to get involved.
First off, this is this weird Yahoo economic thanatos - everyone wants to jump into a disaster. All pro investors are trying to find ways of getting short and all the idiots on Yahoo want to give them the opportunity. When something is getting crushed, you don't ever try to call a bottom and jump in unless you are very knowledgeable about the market.
Second off, as jerry pointed out, Lira is not really traded. If you go to Turkey you can see why - Lira is barely the currency of Turkey. When I travel to Turkey, I spend mostly Euros but you can even use dollars in a pinch. Their own country thinks Lira is suspect so there is hardly a floor on how low Lira could go. People would just shrug and continue using Euro.
BTW - I love Turkey and you should go there despite State dept warnings. I think Turks are some of the nicest, best people in the world (yeah, I know they have done some horrible things in history too).
When will the Turkish lira reach its maximum inflation? Is it prudential to purchase the Turkish lira now or around mid to end 2014?
