Turkish Lira Not a Contagion Risk to EM Currencies: Saxo Bank

The video discusses the impact of $60 billion in Turkish assets, initially down by 5%, on emerging markets. Morgan Stanley warns of potential effects on currencies like the South African Rand and Russian Ruble. However, the Turkish Lira's behavior is unique and not typical of other emerging markets. The video also covers the potential reassessment of risks by financial institutions like BBVA and the containment of contagion risks in emerging market currencies.

What role does BBVA play in the context of emerging markets as mentioned in the text?

What are the potential risks of contagion to other currencies from the Turkish situation?