Amundi Finds Currency Bargains in Beaten Down Emerging Markets
- Trillion-dollar firm says rupee, Mexico's peso undervalued
- Goldman Sachs, Schroder also see opportunities in sector
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Trillion-dollar asset manager Amundi SA is looking to scoop up beaten-down developing-nation currencies including India’s rupee and Mexico’s peso as it hunts for bargains in the $5.3 trillion-a-day foreign exchange market.
The biggest publicly traded money manager in Europe with 952 billion euros ($1 trillion) under management says the currencies, which have dropped 5.7 percent and 13 percent against the dollar this year, have fallen too far relative to the health of their economies.