Forex Pile Remains Asia’s First Defense Versus Relentless Dollar
- Asian authorities have over $5.5 trillion of reserves, TD says
- India, Thailand, Philippines may dip into stockpile: Nomura
This article is for subscribers only.
The dollar’s recent rally has been relentless. But Asia’s central banks have the firepower to limit the fallout.
Policy makers in the region have more than $5.5 trillion of foreign-exchange reserves that they can deploy to shore up their currencies, according to calculations by TD Securities, using data compiled by Bloomberg. The stockpile reached a record high of $5.9 trillion in 2021.