The US Fed’s move to extend emergency currency swap lines to four emerging economies yesterday eased the worries of Asian companies and banks and restored confidence in Latin American markets. The Fed agreed on Thursday to lend $30bn each to South Korea, Singapore, Brazil and Mexico. The Korean won, for instance, rose 14 per cent against the USD, its biggest gain since December 1997.

This entry was posted by Tracy Alloway on Friday, October 31st, 2008 at 3:52 and is filed under Capital markets. Tagged with Dollar, Fed. Edit this entry.