1. The export led policies which saw EM’s keep their currencies artificially low, has reached a pinnacle as the Western economies are unreliable purchasers as the economic crisis shows. So appreciating the currency is no bad thing

2. Appreciating EM currencies will help control inflation

3. Reserves held by EM have reached levels which are not commensurate with the investment those countries need eg India needs to invest in infrastructure

4. interest rates will rise to control inflation