Many EMEs had to raise policy rates to curb capital reversals and contain downward pressure on exchange rates (e.g., Turkey, Brazil, South Africa and India). Subsequently, greater clarity on tapering from the Fed coupled with domestic policy action helped EMEs  5  Mishra, Prachi; Kenji Moriyama ; Papa M’B.
These quite understandable uncertainties in the minds of the people are being taken quite seriously. In the following, I would like to show you how a smooth transition to the euro will be made possible for consumers. II. As I already mentioned, people first have to become confident about the new currency.