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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

China to contribute US$38.4 bln to regional forex reserve pool

Posted on 30 December 2009

From China Knowledge: The People’s Bank of China, the central bank, yesterday said that China, Japan, and South Korea have finalized plans for a US$120-billion regional foreign-exchange reserve pool designed to help Asian countries deal with a possible foreign capital flow shortage, sources reported.

China and Japan will each contribute US$38.4 billion, while South Korea will contribute US$19.2 billion. The total from the three nations will account for 80% of the US$120-billion reserve pool…………………………………….Full Article: Source

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