Top Emerging Market Currencies to Trade 

Apart from the major currencies in the forex market, you have other choices. Emerging market currencies are money from a country that is currently undergoing economic advancement. 

Emerging market economies typically experience robust growth in the industrial sector apart from the growth in economy as a whole. 

The following are the most tradeable emerging market currencies that you can try trading alongside major currencies. 

Brazilian Real (BR) 

The Brazilian real ranks as the 19th most traded currency when it comes to daily forex market turnover. Its value is around $1 billion. 

In terms of forex volume, the Brazilian real tags along with the Chinese yuan, Russian ruble, and Indian rupee. Traders most frequently trade the real against the euro and the dollar. 

The Brazilian real’s rise to economic prominence is because of the strength of its exports sector. It has a global rank of 25th with a value of $190.1 billion annually. 

The country’s leading trade partners are the United States, Argentina, and China. 

Russian Ruble (RUB) 

The Russian ruble is tied with the Indian rupee as the 18th most frequently traded currency on the forex market. It has a daily average turnover of around $58 billion. 

The ruble comes just after the Chinese yuan when it comes to forex market turnover, and it is usually paired with the US dollar and the euro. 

Since the downfall of the Soviet Union, Russia has evolved as an economy. Free-market principles are now replacing the previously popular government-planned economy. 

Russia is the 15th largest international exporter. Its economy relies heavily upon the export of petroleum products and natural gas to trade partners like the European Union, Japan, and China. 

Traders who love volatility love the ruble for its movements. As a matter of fact, it has earned the title as the most volatile currency. 

This is because the ruble has a high correlation to crud oil prices. At the same time, it reacts to the sanctions that the United States and the European Union impose on it. Such problems often lead to huge swings in value. 

Indian Rupee (INR) 

The rupee, just like the ruble, is the 18th most frequently traded currency when it comes to forex turnover, with a daily value of $58 billion.

Similar to the ruble, the rupee lags behind only the Chinese yuan in the forex market. It is usually paired with the US dollar and the euro.

Its difference with other emerging market currencies is that the Indian government practices a managed floating policy. 

That means the rupee’s value is not solely determined by the open market. For instance, when the markets get too volatile, the Indian central bank often intervenes on behalf of the rupee to boost its valuation. 

Chinese Yuan (CNY) 

The Chinese yuan ranks as the 8th most traded currency in the world. Its daily forex market turnover is at $202 billion. Also, it accounts for 4% of the total daily forex market volume.

The Chinese yuan is a special emerging market currency in that it affects the whole forex market. Its trading volume is near the levels of the Swiss franc (CHF) and it doesn’t lag too far behind other seven major currencies. 

 

Related Articles

Sustainable venues London are integrated with highest quality

Today, sustainable venues are crucial assimilations of any successful organization.  Generally, all over the globe and specifically in the United Kingdom these efficacious venues...

All about a healthy life style

A healthy life style is the key to a happy life.  Our hygiene gets hampered in many ways by excessive smoking, drinking and so...

5 Things to be Careful of Before Applying for a Credit Card

Credit cards have become popular due to their many advantages. But before you join the bandwagon and apply for a credit card, you need...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

21,824FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

Sustainable venues London are integrated with highest quality

Today, sustainable venues are crucial assimilations of any successful organization.  Generally, all over the globe and specifically in the United Kingdom these efficacious venues...

All about a healthy life style

A healthy life style is the key to a happy life.  Our hygiene gets hampered in many ways by excessive smoking, drinking and so...

5 Things to be Careful of Before Applying for a Credit Card

Credit cards have become popular due to their many advantages. But before you join the bandwagon and apply for a credit card, you need...

How To Improve Your Savings Through The Power Of Compounding?

The power of compounding is a way to multiply your returns on investments and savings and thereby help you to meet your long-term goals....

Tips To Increase Twitter Followers

Several brands hire social media influencers for launching any new product of theirs’ in the market. If you are someone too who is trying...