Investors shouldn’t hold their breath for coordinated intervention among emerging markets to support their currencies, analysts say.

The idea started making the rounds in markets earlier on Friday when Reuters cited Dipak Dasgupta, a senior economic adviser to the India Finance Ministry, as saying India was talking to other countries about coordinated currency intervention. He later clarified to The Wall Street Journal that it was his professional view that the countries should coordinate their actions and that he didn't know if India is actively discussing such efforts with any other country.