The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

South Korean currency
South Korean currency
(Tanuki Photography/


Tracking the carnage in emerging markets currencies

ROB Insight is a premium commentary product offering rapid analysis of business and economic news, corporate strategy and policy, published throughout the business day. Visit the ROB Insight homepage for analysis available only to subscribers.

Investors who had moved from developed countries to emerging markets in search of yield got an ugly surprise last month, after sharp declines in exchange rates cut deeply into returns. A close look at the recent performance of the main free-floating emerging-market currencies (ie. not China’s, whiose value closely follows the U.S. dollar) highlights one exchange rate where Canadians should pay attention: the South Korean won.