Related: Best ETFs to Hedge Further Weakness in China
For instance, India’s rupee touched an all-time low as higher energy costs and the emerging-market selloff dragged on the Asian market. Indonesia’s rupiah currency depreciated to its lowest level since October 2015 even as the central bank is expected to raise rates Friday.
“While the speed of selling has slowed down compared to the early part of the week, emerging market currencies have continued to show weakness,” Jameel Ahmad, global head of currency strategy at FXTM, told CNN.
For more information on the developing economies, visit our emerging markets category.