U.S. dollar appreciation hits emerging markets harder than developed economies: IMF

NEW YORK, July 19 (Xinhua) -- The U.S. dollar appreciation driven primarily by global financial risks last year had harder negative spillovers, especially for economic activity and imports, on emerging market economies than on developed economies, the International Monetary Fund (IMF) said on Wednesday.

The IMF said in its annual External Sector Report that the dollar's real effective exchange rate rose by 8.3 percent in 2022 to its strongest level in two decades, amid a series of Federal Reserve rate increases to curb inflation and higher global commodity prices driven by the Ukraine conflict.