G-20 nations will be represented by their leaders when they meet in London on thursday this. The meet will resolving some differences of openion between USA and European nation about the need , impact and scope of various stimulus packages announced by various govts.
In fact, the financial crisis and the stimuluous packages and lowering of interest rates to remedy it, are having a compound effect on currencies. The stress is noticeable but movements have been not all that large so far. The dollar appreciated since Sept 08 than lost ground. Similar is the fate of other currencies. China is affected due to its dollar reserves. India is less affected as its dollar reserves are not that large. Everybody is looking towards a solution and return to normalcy that would not have an adverse impact on them individually. But I think some thing will give way and some kind of turmoil will take place before the calm returns in international financial affairs. By the way , I see India getting least affected because its economy has far lesser proportion of international exchanges than others. The protectionist policies are not bad thing in the back-drop of current world economic situation. If there are islands of stability , the world will have better chance of coming out of the present mess.
Asian markets have opened lower and so should be the case in India at least today.