The spike in the dollar has taken some zing out of emerging markets (EMs) in September. The dollar index, a gauge for the performance of the greenback against major global currencies, is hovering around its two-month low amid uncertainty over further stimulus measures in the US and rising Covid-19 cases worldwide.
While the domestic equity markets have seen a sharp rebound in the past two trading sessions, analysts say the dollar’s ascent could be a cause for worry as it could further accelerate foreign portfolio investor (FPI) outflows. In the past six trading sessions, the ...
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