Subscribe to our podcast, follow us @economics, and sign up for the New Economy Daily email.
It's a "head scratcher," according to Citigroup. It has what Goldman Sachs calls "striking resiliency." It's considered a "prize for proactiveness" by Columbia Threadneedle.
Whatever way it is put, money managers are taking notice of the relative resilience that is developing in emerging-market currencies relative to those of wealthy nations.
The rise of the dollar to new milestones has sent currencies all around the world into a downward spiral.
But a closer check finds that the benchmark indicator for currency rates in developing markets is only recording half the losses experienced in rich nations.
Unusually, this outperformance is still going strong even while commodity prices, which are poorer countries' main source of income, are falling.