| Asia's central banks snapped up dollars and other currencies in June at the fastest pace since 2011, bringing total foreign-currency reserves to $7.47 trillion, the latest in a series of records, in an effort to fend off the impact of a wave of cheap global capital.
According to the latest data, holdings in Hong Kong, Singapore, South Korea and Taiwan all hit new highs, while Japan's reserves rose to $1.28 trillion. Citigroup Inc. economists estimate that China will report a record $3.99 trillion in reserves within the next week..........................................Full Article: Source
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