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India, Brazil, Other Emerging Economies Hit By Currency Rout

wochit news
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August 19, 2013 AT 11:19 AM
The Indian rupee plummeted to a record low against the dollar leading a rout by Brazil's real and other emerging market currencies seen by investors as the most vulnerable to an exodus of foreign capital. A fierce selloff in many emerging currencies shows no sign of abating as the expected withdrawal of U.S. monetary stimulus prompts investors to shun markets seen as riskier because of funding deficits, slowing economies and inflation.