This week so far witnessed steep fall in the value of the emerging market currencies
vis a vis the USD caused due to the fears regarding the tapering of the QE by the
Federal Reserve Bank of the US. The INR was the biggest hit currency followed by
currencies of other emerging economies. The acute current account deficit was another
factor driving the depreciation of the INR.
Going forward, so long as the uncertainty regarding the downsizing of the assets buying
programe persists, markets the world over will continue to remain nervous and volatile.
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