Here’s How the Oil Crash Is Hitting Emerging-Market Currencies

Ruble, Mexican peso plummet, while Saudi riyal is overvalued
Even oil importers like Turkey and South Africa aren’t spared

Venezuelans Look To Colombian Border Town For Dollar Needs — Photographer: Meridith Kohut/Bloomberg

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By Paul Wallace

March 17, 2020 at 5:00 PM EDT

Updated on

March 18, 2020 at 9:16 AM EDT

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Oil’s plunge has stung currencies across emerging markets, and there’s probably worse to come.

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Before it’s here, it’s on the Bloomberg Terminal