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.”
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
MARK SEYMOUR: Equity market valuations matter in rising inflation environmentInvestors are nervous as corporate earnings are likely to weaken as central banks raise rates
Lire la suite »
MARK SEYMOUR: Equity market valuations matter in rising inflation environmentInvestors are nervous as corporate earnings are likely to weaken as central banks raise rates
Lire la suite »
BUSINESS MAVERICK: Cartoon Tuesday with RicoDefend Truth
Lire la suite »
Business Maverick: US resuscitates bid at G7 to counter China’s Belt and RoadThe Build Back Better World initiative has struggled to get off the ground because not enough G7 partners contributed financially when it was unveiled last year.
Lire la suite »