Business Maverick: Central banks in Asia spend billions 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.

“Some countries would have used their reserves to stabilise their currencies when moves were excessive,” said Rajeev De Mello, a global macro portfolio manager at GAMA Asset Management in Geneva. “They know that they can’t reverse their currencies’ weakness against the USD, but they can smooth the declines.”

الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين

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