Amid the carnage in emerging market currencies over the past two weeks, a few have held up relatively well.
One, the Thai baht, has actually stood out for its exceptional performance.
While not as strong as Thailand's currency, the Malaysian ringgit has been quite resilient, not sliding as much as the other currencies in turmoil. Those two economies have a few things in common: low inflation as well as large current account surpluses, experts pointed out.
Emerging market currencies have been plunging of late, some to new record lows.
Among the worst hit are the Argentine peso, Turkish lira, Indonesian rupiah and Indian rupee, causing fears of emerging markets contagion to spread. The lira, for instance, has lost at least 40 percent of its value against the dollar this year, while the rupee — the worst performing emerging Asian currency — has plunged more than 12 percent.