Asia, Russia try to boost dollar by buying currency:

11/12/2009 | Wall Street Journal, The

Central banks have stepped up purchases of U.S. dollars to drive up the value of the currency and blunt the impact of a weak dollar on recovery in their own countries. The Philippines, Russia, South Korea and Thailand made major purchases to slow the increase of their currencies. "Quite clearly, all Asian central banks have found it necessary to intervene, and it's costing us," said Korn Chatikavanij, Thailand's finance minister.

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Wall Street Journal, The

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