| Finance ministers have vowed not to engage in currency wars to boost exports, but the scars from the financial crisis are still apparent. World finance ministers meeting at the G-20 summit in Shanghai this past weekend vowed not to engage in currency wars to boost exports.
But a look at emerging markets’ currencies shows plenty of battle scars since the global financial crisis that began in 2007. The Korean won is already approaching levels not seen since the financial crisis, while the Indian rupee has weakened against the U.S. dollar beyond levels set during a panic in emerging market assets during 2013...............................................Full Article: Source
|