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Currencies

Emerging market currencies plunge in pandemic sell-off

Rupee falls to all-time low and rupiah plumbs post-Asian crisis depths

The Indian rupee fell to its lowest value against the dollar on record Thursday due to economic fallout concerns.   © Reuters

SINGAPORE/JAKARTA -- Emerging market currencies have been pummeled by the novel coronavirus pandemic as frightened investors pull money out of economically vulnerable corners of the world.

India's rupee fell to a record-low 75 against the dollar on Thursday while the Indonesian rupiah touched 15,400 against the greenback at one point, a level not seen since the Asian currency crisis in 1998. 

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