Emerging market currencies mark biggest falls in 5 years

Coronavirus pandemic and slumping oil price undermine credit ratings

20200501 chart

Emerging market currencies are collapsing in a magnitude last seen in 2015. © Reuters

HIROFUMI TAKEUCHI, Nikkei staff writer

TOKYO -- Emerging market currencies are collapsing in a magnitude last seen in 2015 when China's renminbi devaluation panicked global financial markets.

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