Dominant Currencies and the Limits of Exchange Rate Flexibility

2020-07-21T09:46:51-04:00July 20, 2020|

By Gustavo Adler, Gita Gopinath and Carolina Osorio Buitron

Faced with an unprecedented shock of collapsing global demand and commodity prices, capital outflows, major supply chain disruptions and a generalized drop in global trade, many emerging markets and developing economies’ (EMDEs) currencies have weakened sharply. […]