Emerging-market currencies are seeing significant gains due to a weakening US dollar and positive economic data from the euro zone.
France, Spain, and Germany have reported better-than-expected growth, creating a favorable environment for these currencies.
The MSCI EM Currency Index increased by 0.2% as of 9:50 a.m. London time, with the South Korean won leading the way as the top performer.
The South African rand also showed strength, appreciating by up to 0.7% against the dollar ahead of the government's medium-term budget presentation later today.