Official reserves
(Asian hoarders)
(Asian hoarders)
Most of the world's foreign-exchange reserves are held in Asia, and in particular, China and Japan. Japan's are partly a legacy of its efforts in 2003 and 2004 to keep the yen weak and support its economy. China's topped $1 trillion last autumn, a symptom of its policy to keep its exchange rate capped in order to foster exports. In some developing countries, reserves seem far in excess of prudential need.
By Mini
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