A global digital currency like DNotes will be a big help to people living in countries listed in this article that are at the mercy of government issued fiat.
Top 10 worst-performing emerging market currencies of 20152015 has not been a good year for emerging market currencies.
An economic slowdown in China, plunging oil prices and an imminent Federal Reserve interest rate increase have caused a mass sell-off in emerging market currencies across the board.
CHALLENGES IN EMERGING MARKETS
Currencies such as the Brazilian Real and Turkish Lira have suffered further from political turmoil, while others, including
the Russian Rouble and Ghanaian Cedi, have experienced unprecedented levels of volatility and violent shifts in investor sentiment.Many, including the Malaysian Ringgit, South African Rand and Mexican Peso, have even plunged to all-time lows, compounded by the decision of the People’s Bank of China to devalue the Chinese Yuan in August.
JP Morgan’s emerging market currency index has recently fallen to its lowest on record, having declined by over a fifth since the beginning of last year alone.
WHICH CURRENCIES FARED THE WORST?
Below, we have listed the top 10 worst performing emerging market currencies (Source: Bloomberg Date: 14/10/2015) covered in our latest Emerging Market Report. The Brazilian Real tops the list, having lost a staggering 31.5% of its value so far in 2015 alone.
Percentage lost per emerging market currency in 2015:
Brazilian Real (BRL) – 31.5%
Turkish Lira (TRY) – 20.3%
Malaysian Ringgit (MYR) – 16.7%
Ghanaian Cedi (GHS) – 15.9%
South African Rand (ZAR) – 13.7%
Kenyan Shilling (KES) – 12.2%
Mexican Peso (MXN) – 11.1%
Indonesian Rupiah (IDR) – 9.0%
Egyptian Pound (EGP) – 8.7%
Peruvian Neuevo Sol (PEN) – 8.1%
Full article:
https://www.ebury.com/blog/2015/10/15/top-10-worst-performing-emerging-market-currencies-of-2015/