Asian central banks intervene to slow fall of US dollar; IMF asks if large reserves helped countries during the financial crisis?
Oct 9th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Asian central banks on Thursday intervened in the currency markets to halt the rise in the value of their currencies against the US dollar, prompted by fear that they could be at a disadvantage in export markets, with China. Also on Thursday, IMF researchers led by their chief economist Olivier Blanchard, asked if the large accumulation of international reserves in many emerging economies over the past decade, mitigated the impact of the financial crisis?