The Russian national currency, the ruble, was reportedly the only emerging-market currency to appreciate against the US dollar despite Washington’s threat of expanded curbs on purchasing the country’s state debt.
“In September, the currencies of developed markets fell by up to 2% against the dollar, while some currencies of emerging markets, including Brazilian real, Hungarian forint, Thai baht, dropped about 5%, with Turkish lira declining by an enormous 7%,” FX and Rates Strategist at SberCIB Investment Research Yuri Popov said, as quoted by TASS.
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