Emerging Currencies Rise to Five-Week High on Oil, Fed Outlook
Shrinking Currency Reserves Threaten Emerging Asia
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Emerging-market currencies rose to a five-week high and stocks from Russia to Brazil gained as oil jumped and speculation mounted that the Federal Reserve will delay raising U.S. interest rates, buoying demand for riskier assets.
The ruble climbed for a fourth day against the dollar, extending the world’s best performance this year, as Brent crude rebounded 5.8 percent to $58.12 a barrel. The dollar-denominated RTS Index of Russian stocks jumped to the highest since late November. Saudi Basic Industries Corp. ended a two-day drop in Riyadh. Brazil’s Ibovespa rose for a third day. Sun Pharmaceutical Industries Ltd. surged to a record in Mumbai.