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Intervention brakes rupee near record as $2.8 billion flees

  Bloomberg The rupee’s slide toward a record low, amid $2.8 billion in outflows from Indian stocks and bonds, is prompting speculation the central bank will step up intervention to stem losses. With a Federal Reserve interest-rate increase next month all but a certainty for bond traders, the rupee has slumped 2.6 percent in November, the most in 15 months. ...

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Struggling South Africa faces threat of junk credit rating

  Johannesburg / AFP South Africa’s political turmoil and weakening economy will come under the harsh spotlight of international credit ratings from this week amid predictions the country could lose its investment-level status. Moody’s will release its updated grading on Friday, before Standard & Poor issues its key announcement a week later on December 2. S&P currently has South Africa—the ...

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Erdogan takes wheel of Turkey’s economic coordination board

  Bloomberg Turkey’s President Recep Tayyip Erdogan will lead a meeting of the economic coordination board on Wednesday, a day after a session under the chairmanship of Prime Minister Binali Yildirim to discuss the slide of the lira was canceled. Government officials said ministers in charge of the economy and senior advisers are expected to attend the 7:30 p.m. meeting ...

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