kawaraj
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This is worrisome.
India, Brazil, other emerging economies hit by currency rout - The Times of India
"MUMBAI/RIO DE JANEIRO: The Indian rupee plummeted to a record low against the dollar on Monday, leading a rout by Brazil's real and other emerging market currencies seen by investors as the most vulnerable to an exodus of foreign capital.
A fierce selloff in many emerging currencies shows no sign of abating as the expected withdrawal of U.S. monetary stimulus prompts investors to shun markets seen as riskier because of funding deficits, slowing economies and inflation.
The rupee fits that bill, as do the Indonesian rupiah, the South African rand and the Brazilian real. The rupiah plunged to four-year troughs on Monday while the rand lost another 1 per cent to bring year-to-date losses to almost 17 per cent against the dollar.
....
Other Latin American currencies, despite being seen as less vulnerable than the real, have also weakened sharply in the past few days. The Mexican peso lost about 1 percent on Monday after sliding 2.3 percent last week. Chile's peso, which is strongly correlated to copper prices, dropped 1 percent on Monday to close at its weakest level in more than a year."
India, Brazil, other emerging economies hit by currency rout - The Times of India
"MUMBAI/RIO DE JANEIRO: The Indian rupee plummeted to a record low against the dollar on Monday, leading a rout by Brazil's real and other emerging market currencies seen by investors as the most vulnerable to an exodus of foreign capital.
A fierce selloff in many emerging currencies shows no sign of abating as the expected withdrawal of U.S. monetary stimulus prompts investors to shun markets seen as riskier because of funding deficits, slowing economies and inflation.
The rupee fits that bill, as do the Indonesian rupiah, the South African rand and the Brazilian real. The rupiah plunged to four-year troughs on Monday while the rand lost another 1 per cent to bring year-to-date losses to almost 17 per cent against the dollar.
....
Other Latin American currencies, despite being seen as less vulnerable than the real, have also weakened sharply in the past few days. The Mexican peso lost about 1 percent on Monday after sliding 2.3 percent last week. Chile's peso, which is strongly correlated to copper prices, dropped 1 percent on Monday to close at its weakest level in more than a year."
