| The worst declines since at least 2008 for emerging market currencies may have further to go as the debt and banking crisis in Europe buffets economies once resistant to the global slowdown.
European lending of $3.4 trillion to developing counterparts is almost triple that from U.S. and Japanese institutions combined, according to Bank for International Settlements data through March 2011. This leaves developing countries more vulnerable to Europe’s sovereign debt crisis than they were to the global credit meltdown in 2008, according to Royal Bank of Canada..............................................Full Article: Source
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