There have been serious dips and dramatic rescues in the emerging economies.
Stating that uncertainty is not good for industry in general, and currency movements are going to be unpredictable at this point of time, he said one does not know now whether this is going to trigger a cascading set of reactions.
CARE Ratings: How 12 major emerging markets currencies have moved in the last 7-8 months and the impact of the Federal Reserve‘s announcements regarding its tapering programme.
Amit Dalal of Tata Investment says that the main factor of concern is economic data, which is the one reason why the market will correct downwards in the months to come.