Excerpt from: GFT News
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| October 17, 2008 | | Emerging market currencies struggle on the FX market | In recent years, private investors have been doing a great deal to help emerging markets. Indeed, with investors looking for new opportunities, emerging market currencies have been doing relatively well.
But that was before the credit crunch and global recession. Now emerging markets are struggling as private investors pull out as risk aversion rises. Emerging market currencies have been seeing sharp drops against the U.S. dollar in recent weeks.
This means that the International Monetary Fund is becoming relevant again. The IMF is offering help to emerging market currencies and other countries that need help. And Iceland, with its tanking currency and failed banking system, might be first in line.
| Topic Tags: currencies FX market, emerging market currencies, emerging markets, FX market, International Monetary Fund, U.S. dollar | |
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