The past few months have indeed been choppy for currencies across the globe. A weakening dollar set major currencies from other developed as well as emerging economies rising at an alarming pace. Adding to the worries, central banks across the world, embarked upon procedures to directly intervene in the money market to help curb the growth trajectory of their own currency.
The week has stood witness to Brazil enforcing 1% tax on currency derivatives, the Japanese PM calling the yen strongly over-valued and the Swiss National Bank directly intervening in money market to weaken the super-strong Swiss-franc. The question that arises now is, are we truly at the beginning of what the Brazilian PM termed,
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
