Emerging-market currencies are taking a battering, with the South African rand (NYSEARCA:EZA)...

Emerging-market currencies are taking a battering, with the South African rand (NYSEARCA:EZA) receiving particular punishment. What began as a "drip drip of currency weakness" (WSJ) on concerns about the end of the Fed's QE program has turned into a flood as countries' various problems become exposed. The rand is down 6.3% since last week and the Turkish lira is -2.4%.