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MORGAN STANLEY PRESENTS: 'The Fragile Five'...
Date: September 24, 2013
By: Mamta Badkar
Ten years ago, Goldman Sachs declared Brazil, Russia, India and China (BRIC) as the emerging markets with the brightest economic growth prospects.
This year, Morgan Stanley declared the Brazilian real, the Indonesian rupiah, the South African rand, the Indian rupee, and the Turkish lira as the "Fragile Five," or the troubled emerging market currencies under the most pressure against the U.S. dollar.
"High inflation, weakening growth, large external deficits, and in some cases exposure to the China slowdown, and high dependence on fixed income inflows leave these currencies vulnerable," wrote Morgan Stanley analysts in an August research note.
We've highlighted Morgan Stanley's greatest concerns for each of the "Fragile Five," and include their year-to-date performance against the greenback.
Read the full article here: http://www.businessinsider.com/morgan-stanley-fragile-5-emerging-markets-2013-9?op=1#ixzz2fqIm5N17