Forex reserves of $6 trn to serve as Asia's shield from resurgent dollar

Quick Summary:

Keeping currencies stable has become all the more important as central banks start lowering rates to tackle slowing economic growth.

Bank Indonesia kicked off the region’s easing cycle with an unexpected rate cut in September, followed by South Korea, Thailand and the Philippines in October.

Asian currencies have come under pressure in October, as rising odds of a Donald Trump presidency and uncertainties over the pace of the Federal Reserve’s easing bolstered the greenback.

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Article Details

Category: BusinessFinance

Markets: IndiaChinaIndonesiaJapanSouth KoreaMalaysiaPhilippinesThailandVietnam

Topics: Federal reserve US dollar Asian stocks US Presidential poll Asia shield Asian markets Forex reserve

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 09:18:53 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 612 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23359970

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Main Topics: BusinessFinance

Official Website: business-standard.com

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Year Established: 1975

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News Last Updated: 3 hours ago

Coverage Areas: India

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Publisher ID: #49

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