India and Indonesia seek to calm investor jitters

HONG KONG - India and Indonesia are the region’s two economies most affected so far by the global Emerging Markets selloff, with the currencies of each country depreciating by 7-8% against the USS so far this month. BBVA Banks says outflows have been exacerbated by country-specific factors, including widening current account deficits, lagging structural reforms and, in the case of India, recent policy missteps.