29.07.2015 - Emerging currencies hit 15-year lows
Emerging-market currencies have slumped to 15-year lows as China’s equity rout and free-falling commodity prices reverberate throughout the global economy. Raw-material exporters Brazil, Russia and Colombia have suffered some of the heaviest sell-offs as falls in the price of commodities such as oil, copper and iron ore continued unabated this week, with Brent crude falling to its lowest level since February. The turbulence is expected to increase once the US Federal Reserve chooses finally to increase interest rates from near-zero levels, a move which will probably have a chilling effect on developing markets. James Lord, emerging market strategist at Morgan Stanley, said the Fed was an “ever-present risk...............................................Full Article: Source
Print