The Emerging-Market Currency Rout
With the currencies of Malaysia, Indonesia, Turkey, Brazil, Colombia, and Chile hitting record lows last week, currency traders around the world are asking how much lower emerging-market currencies can go. The answer is: Quite a lot.
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SANTIAGO – With the currencies of Malaysia, Indonesia, South Africa, Turkey, Brazil, Colombia, Chile, and Mexico hitting record lows recently, currency traders around the world are asking: How much further can emerging-market currencies weaken?