Could the Emerging Market Currency Crisis Bother US Investors?
There’s a crisis building in emerging market currencies. The Turkish lira, Iranian rial, and Indian rupee have fallen to an all-time low against the US dollar. The Russian ruble also fell to a two-year low against the US dollar. In Iran’s case, US sanctions and an overall economic slowdown took a toll on the currency. President Trump’s tweet about doubling the Section 232 tariffs on Turkish steel and aluminum products added fire to the already plunging Turkish lira.