Emerging-market currencies post weekly gain

Mumbai

EMERGING-MARKET currencies posted a weekly gain as investors increased bets that the Federal Reserve will raise US interest rates gradually, supporting demand for riskier assets.

A gauge tracking 20 developing-nation exchange rates climbed 0.4 per cent in the five days through Friday. South Africa's rand was the best performer, rising 5.4 per cent against the dollar, followed by a 2.6 per cent gain in Turkey's lira.