Emerging-Market Currencies Set for Best Month Since 1998: Chart

Emerging-market currencies are headed for their best month since 1998, with the rally getting a boost overnight as Federal Reserve Chair Janet Yellen reaffirmed the U.S. central bank will go slow with rate increases. Russia’s ruble is leading the way as Brent crude is poised for its biggest monthly advance in almost a year. A recovery in the prices of other raw materials, as well as rising stocks, have also aided many developing-nation exchange rates.

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