Emerging markets strategist Peter Redward, who correctly predicted a sharp slide in the Indian rupee and Indonesia rupiah, has warned the selling isn't yet over for the countries struggling to narrow current account deficits.
In a research report published by the firm on September 4, 2012 entitled 'INR's vulnerability is rising, again', Redward projected a 12-month target for the rupee of 62 against the U.S. dollar. The currency hit that level last Friday.
(Read more: Is this currency about to follow the rupee's crash course?)
And, in August 13, 2012, the former Singapore-based Head of Emerging Asia research at Barclays Capital also forecast a slump in the Indonesia rupiah to 10,700 in 12 months, a level reached on Tuesday.