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Highest gain in a year for Asian currencies

The unexpected decision by Fed brought some good to the emerging market. Continued monetary policy decision resulted in capital inflows to the emerging market assets. Various Funds bought millions of stocks in Indonesia, Philippines and Thailand. Among these currencies Malaysian currency was the biggest gainer. On the other hand RBI in India unexpectedly raised its Repo Rate to 7.5 from 7.25. The Rupee came down to 62.13 after the interest rate hike.