Niche in final flurry to end year of happy returns
Niche currency investors showed that they were not quite finished for 2009 this week, with a flurry of issuance bringing to a close a year in which total returns in emerging currencies have been impressive.
Brazilian reais returned 43.6% in dollar terms over the course of 2009, while Chilean pesos and South African rand paid 37.5% and 29%, respectively.
There was European demand for Brazilian reais this week and the Inter-American Development Bank sold a R$75m ($43m) 9.5% four year deal to about 16
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