India, Brazil, Other Emerging Economies Hit By Currency Rout

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India, Brazil, Other Emerging Economies Hit By Currency Rout

by Wochit 0:51 mins

India, Brazil, Other Emerging Economies Hit By Currency Rout

by Wochit 0:51 mins

The Indian rupee plummeted to a record low against the dollar leading a rout by Brazil's real and other emerging market currencies seen by investors as the most vulnerable to an exodus of foreign capital. A fierce selloff in many emerging currencies shows no sign of abating as the expected withdrawal of U.S. monetary stimulus prompts investors to shun markets seen as riskier because of funding deficits, slowing economies and inflation. A train ran over a group of Hindu pilgrims at a crowded station in eastern India, killing at least 37 people. Officials said a mob infuriated by the deaths beat the driver severely and set fire to coaches.

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