TOKYO -- The dollar is approaching heights not seen since 1985 as the Federal Reserve raises interest rates to combat historic inflation, squeezing emerging economies that face soaring costs to service their dollar-denominated debts.
Currencies
Superstrong dollar threatens debt crisis across emerging economies
Mexico pressured to follow Fed hikes, while Sri Lanka's repayment costs soar
The dollar's nominal effective exchange rate against a broad basket of currencies, including from both advanced and emerging economies, is now at one of its highest points since it started publicizing the data in 1994. © Reuters
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