| Developing nations are embracing the greater competitiveness that comes with the beating their currencies have taken, leaving their rainy day funds untouched.
Foreign reserves in the 12 biggest emerging markets, excluding China and countries with pegged currencies, fell about 2 percent to $2.8 trillion in 2015, according to data compiled by Bloomberg. The actual decline may be smaller because the strengthening dollar reduced the value of other reserve currencies such as the euro...............................................Full Article: Source
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