Last night we talked about the BRICS/emerging markets slowdown, and the impact that was having on emerging market currencies.
Reuters Scotty Barber has posted a great chart showing how steeply BRICS currencies have fallen especially in the last month.
Of course, China’s yuan is pretty much pegged to the dollar, so it doesn’t collapse like the others.
But… it has moved down ever so slightly. That’s what a currency collapse China-style looks like.
Photo: Scotty Barber, Reuters