Emerging economies ‘remarkably’ resilient to Fed tightening, BIS says
Many EME currencies have appreciated, but Turkish lira and Russian ruble are notable exceptions
Emerging market economies’ (EMEs) currencies have proven resilient despite rising inflation and tighter policy by the Federal Reserve, the Bank for International Settlements says.
EME currencies were “steadfast” against the US dollar in recent months, according to the BIS quarterly review, published today (February 28). The review covers the three months up to February 21, a period that notably excludes Russia’s invasion of Ukraine.
The dollar “zigzagged” against European, African and Asian
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