March 18 (Reuters) - Most emerging market currencies

slipped on Monday as the dollar steadied ahead of the U.S.

Federal Reserve's policy decision this week, while China led

gains in developed world stock markets after upbeat economic

data.

The Russian rouble was an exception in

currency markets, firming 1% to 91.8 against the dollar and

bouncing off a three-month low versus the euro.

President Vladimir Putin won a record post-Soviet landslide

in Russia's election on Sunday, cementing his already tight grip

on power in a victory he said showed Moscow had been right to

stand up to the West and send its troops into Ukraine.

The rouble had weakened steadily in the week leading up to

the election, but the ultimate impact on the Russian market was

limited.

Overall, with the dollar trading near two-week highs

against major peers, the Turkish lira fell to a

record low of 32.39 per dollar and the South African rand

slipped.

Most EM currencies have struggled this year after a strong

2023 as investors grapple with uncertainty around when U.S.

interest rates will start falling as data points to a resilient

U.S. economy.

Recent inflation data prompted investors to pare bets of

quick and big rate cuts from the Fed this year. The focus on

Wednesday will be on whether Fed policymakers change their

projections of rate cuts for the year.

"The chart of expectations will be closely scrutinised for

any more conservative tweaks, which could spark negative

sentiment," Susannah Streeter, head of money and markets,

Hargreaves Lansdown, said.

Central banks in Britain, Australia, Norway, Switzerland,

Mexico, Brazil and Indonesia are due to meet this week, with

most expected to stand pat on rates.

The Turkish central bank's policy decision is due on

Thursday amid growing calls for a rate hike after data showed

annual inflation rate climbed to 67% in February, exceeding

economists' expectations.

The lira has weakened more than 9% this year after a

near-37% slide in 2023, further stoking import prices.

The MSCI's gauge of EM equities rose 0.4%, with

Shanghai closing up about 1% after numbers

showed China's factory output and retail sales beat expectations

in the January-February period, marking a solid start for 2024

and offering some relief to policymakers.

For GRAPHIC on emerging market FX performance in 2024, see http://tmsnrt.rs/2egbfVh

For GRAPHIC on MSCI emerging index performance in 2024, see https://tmsnrt.rs/2OusNdX

For TOP NEWS across emerging markets

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see

(Reporting by Sruthi Shankar in Bengaluru; Editing by Mrigank

Dhaniwala)