Asian central banks intervene to boost currencies

09/3/2008 | Times (London) (subscription required), The

Central banks in India, Malaysia, the Philippines and Indonesia intervened in foreign-exchange markets as a variety of factors -- including a state of emergency in Bangkok, Thailand, inflation and tumbling stock markets -- put pressure on currencies. Authorities sold dollars to boost their local currencies, but analysts said the moves likely were not coordinated and were not surprising.

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