Currencies in emerging markets plummet

08/19/2013 | Reuters

Currencies worldwide are taking a hit amid expectations that the U.S. will pull back on monetary stimulus. The Indian rupee plunged to a record low Monday against the dollar. Brazil's real also got routed. Emerging-market currencies are taking the brunt of the sell-off because they are seen as the most vulnerable, thanks to their slowing economies, rising inflation and funding deficits.

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