Emerging Economies and the Currency War

Extracted 03OCT2011 from http://www.economist.com/node/21530992?fsrc=scn/tw/te/ar/onemoresuchvictory

...outflows have dragged down the exchange rates of almost every emerging economy since the beginning of August (see chart 1). Having spent much of the past year fretting about their currencies’ rise, central banks across the emerging world have now intervened in the markets to slow their currencies’ fall.