Asian central banks take steps to boost currencies

05/27/2008 | Reuters

Central banks in the Philippines, South Korea, Indonesia and Taiwan are selling dollars to prop up their falling currencies, said currency traders. The move is likely an effort to keep oil prices from fueling inflation. The central banks in Asia traditionally intervene to keep currency from appreciating too quickly, but the focus has shifted in many countries to containing inflation.

View Full Article in:

Reuters

Published in Brief: