Rupee Leads Drop in Asian Currencies on Global Slowdown Concern
This article is for subscribers only.
Asian currencies fell, led by the Indian rupee, as concern a global economic slowdown is deepening damped demand for emerging-market assets.
China’s economy probably expanded 7.4 percent last quarter, the least in more than three years, a Bloomberg News survey showed before data due Oct. 18. Bank of Israel Governor Stanley Fischer said in Tokyo on Oct. 13 that the world is “awfully close” to a recession. European leaders will meet in Brussels for an Oct. 18-19 summit as Greece seeks fresh aid and Spain holds out on tapping a bailout.