Asian central banks move to slow currency declines
After years of building their foreign-exchange reserves, central banks in Asia are tapping into their stockpiles to bolster their weakening currencies against a rising US dollar. Thai reserves slid to US$221.4 billion as of Friday, in data released late last week. That was the lowest in more than two years. Monthly figures show that Indonesia’s stash is at the smallest since November 2020. Reserves in South Korea and India are at their lowest in more than a year. Meanwhile, Malaysia’s stockpile has fallen the most since 2015. “Some countries would have used their reserves to stabilize t...
Source: taipeitimes.com
