September 13, 2018 / 1:43 PM / 3 months ago

MSCI's emerging currency set for biggest daily gain since January

LONDON, Sept 13 (Reuters) - MSCI’s emerging market currency index was set for its biggest daily gain since mid-January on Thursday, up 0.6 percent in the wake of a hefty rate hike from Turkey’s central bank.

The Turkish lira firmed around 3 percent after Turkey raised its benchmark rate by 625 basis points, surprising the market.

Several other key emerging market currencies also rallied, with South Africa’s rand 2 percent firmer and the Russian rouble up 1.2 percent. Mexico’s peso gained 0.7 percent. (Reporting by Claire Milhench Editing by Matthew Mpoke Bigg)

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