At current prices of the South African Rand currency could be an interesting transaction the purchase of bonds denominated in this currency (ZAR) which can be exploited eg by bad debt EIB February 6, 2009 with coupon 8, 50% and price below par. With this type of yield any negative change in the exchange, which also reaches a value very low, is mitigated by the coupon.
Other currencies on which it is possible to obtain attractive returns are the Turkish lira (TRY) and the Icelandic krona (ISK).
This type of investment need, the willingness of investors to bring forward the maturity of the operation in case of unfavorable exchange rates.
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