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Emerging-market currencies slip, including the rand

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Turkey’s lira is heading for a seven-month low and a rating review, as SA elections are mulled by global markets

Bengaluru — Emerging-market currencies slipped on Friday as investors assessed implications of the US Federal Reserve’s neutral message, while stocks were headed for their second weekly drop in a row amid thin holiday trade in Asia.

“The data shows impact of very depressed domestic demand conditions,” said Timothy Ash at Blue Bay Asset Management. “Some will also focus on the continued maintenance of price controls and question how accurate or realistic these inflation numbers are now.” Falling oil prices have benefited crude importer India’s rupee while export major Russia’s rouble tread water.

 

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