Emerging market currencies may be badly hit as a result of the market rout but that doesn't mean you should pull out of local markets, CNBC contributor Tim Seymour said on Tuesday.
"If you're playing the EEM ETF as a dollar-based investor, the biggest place the losses are taking place is on the currency side," he told CNBC's "Power Lunch." "The local markets are nowhere near as impaired as the currencies."
Seymour, who is CIO at Triogem Asset Management, said that two factors will help determine the emerging markets scene to come: China and the Federal Reserve.
He pointed out that Turkey, Brazil and Mexico are especially attractive at the moment.