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Datawatch

Coronavirus triggers dollar drain in big emerging markets

Plunging foreign reserves in Turkey, Indonesia threaten global crisis

The Turkish lira lost around 10% of its value against the dollar since January. (Nikkei montage/Reuters)

TOKYO -- The global coronavirus pandemic threatens to send capital fleeing from emerging economies, as falling exports and a dearth of tourists cause foreign reserves to dry up. Meanwhile, weaker local currencies make servicing external debts harder.

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