Rupee one of the best among EM currencies

The rupee remains one of the best performing currencies among other emerging markets despite Thursday's rout as the local unit lost just 1.86% value to the US dollar so far this year. The intensity of its fall is much lower compared to other currencies like Turkish lira or Brazilian real, which fell by about 14% to 13% versus the greenback. Among Asian peers, Thai baht lost more than 2% while Malaysian ringgit has weakened by close to 3%. But China has outperformed India as the renminbi remains little changed against the US dollar at 6.20 between December 31 & now.