Businessmen holding US dollars stand in front of a currency exchange office in Ankara on August 14 in response to Turkish President Recep Tayyip Erdogan’s call to Turks to sell their dollar and euro savings to support the lira. Photo: Reuters Businessmen holding US dollars stand in front of a currency exchange office in Ankara on August 14 in response to Turkish President Recep Tayyip Erdogan’s call to Turks to sell their dollar and euro savings to support the lira. Photo: Reuters
Businessmen holding US dollars stand in front of a currency exchange office in Ankara on August 14 in response to Turkish President Recep Tayyip Erdogan’s call to Turks to sell their dollar and euro savings to support the lira. Photo: Reuters
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Why the ‘fragile five’ emerging market currencies have alarm bells ringing again

Nicholas Spiro says despite strengthening economic fundamentals, Brazil, India, Indonesia, South Africa and Turkey face the risk of capital flight if investor sentiment continues to weaken

Nicholas Spiro
Nicholas Spiro

Updated: 10:32pm, 6 Sep, 2018

Why you can trust SCMP
Businessmen holding US dollars stand in front of a currency exchange office in Ankara on August 14 in response to Turkish President Recep Tayyip Erdogan’s call to Turks to sell their dollar and euro savings to support the lira. Photo: Reuters Businessmen holding US dollars stand in front of a currency exchange office in Ankara on August 14 in response to Turkish President Recep Tayyip Erdogan’s call to Turks to sell their dollar and euro savings to support the lira. Photo: Reuters
Businessmen holding US dollars stand in front of a currency exchange office in Ankara on August 14 in response to Turkish President Recep Tayyip Erdogan’s call to Turks to sell their dollar and euro savings to support the lira. Photo: Reuters
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Nicholas Spiro

Nicholas Spiro

Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.