Due to rising worries over growth and trade,investors started to choose different currencies such as Egyptian pound and Ukrainian hryvnia, according to the Wall Street journal.
Why the two currencies are attractive to investors?
The two currencies are the best option for investors during market stress since they are not involved in many global issues.
In the end of January, Egyptian pound climbed 6% against the dollar while the hryvnia up 5%.
Senior portfolio manager with Emso Asset Management Jens Nystedt said, "Contrary to many emerging-market assets that don’t really persify your portfolio these offer true persification."
"As a result, the currencies “are seeing the kind of investor participation that they have not seen before,” he added.
Some of the worries are because of the trade friction between the U.S. and China and the policy decisions of the Federal Reserve.
Moreover, Argentine currency has dropped 36% against the dollar in the past year which caused worries to investors.
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