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LONDON, Jan 30 (Reuters) - Emerging market currencies have depreciated sharply in recent months against the dollar, forcing central banks to raise interest rates or spend billions of dollars in their defence.
The Turkish lira, Brazilian real, Indonesian rupiah and South African rand have suffered the biggest losses among freely-traded currencies in the past year, followed by the Indian rupee and Russian rouble, according to this interactive heatmap:
In Argentina, the peso has fallen almost 40 percent against the dollar, a consequence of the authorities' decision this month to loosen their grip on the closely managed currency.
In the past year, only a handful of currencies have managed to stay in the black. These include the Chinese yuan and the Polish zloty.