The MSCI gauge of emerging Asian equities slumped 14% in a turbulent March, its biggest monthly loss since October 2008 at the height of the crisis. The broader MSCI emerging markets index was set for its steepest monthly loss in six years, down more than 13%. South Korea's Kospi index lost 19.1% in March, its worst monthly decline since October 2008, and the won sank to a 17-year low of 1,536.30 per dollar. The MSCI EM currencies index has lost about 3% in March, its worst month since September 2022. In India, the rupee closed March at 94.83 on Monday after briefly crossing the 95-per-dollar level to a record low.

Source: The Edge Markets March 31, 2026 05:51 UTC