For a number of Asia’s emerging-market currencies, the widely expected Federal Reserve interest-rate cut in December may come just in time.
Fed easing would help India’s central bank by reducing pressure on the sinking rupee, and also deliver a reprieve for the faltering currencies of Indonesia, South Korea and the Philippines. The rupee slid past 90 per dollar this week for the first time, while the won has tumbled more than 4% this quarter.
