As Dollar Weakens, More Investors Snap Up Debt in Local Currencies

More money managers are embracing a potentially risky approach to investing in developing countries: They're snapping up debt that pays back interest and principal in currencies like Mexican pesos, Turkish lira or Brazilian reals. For years, they did just the opposite, buying bonds like these only when they were issued in dollars or other major currencies. The fear was that the local currency could tumble, eroding their returns.

Now, however, as the dollar weakens -- it's fallen 4.47% this year, according to the U.S. Dollar Index -- the tables are starting to turn...Read the whole article HERE