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Asia Foreign Reserves Climb on Steady Capital Inflows

International holdings give buffer in case of ouflows as Fed unwinds balance sheet

Foreign exchange reserves are growing across the region, positioning Asia’s central banks to tackle any volatility triggered by the Federal Reserve’s plan to shrink its balance sheet. India’s are set to hit a new high of $400 billion, enough to cover a year of imports, while holdings of international currencies in South Korea, Taiwan, Thailand and Indonesia are all at record levels. China’s reserves -- the world’s biggest -- posted a seventh straight gain in August to $3.09 trillion, helping to reverse a near $1 trillion decline.

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