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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Exchange reserve to boost Asian confidence

Posted on 11 May 2009

From Xinhua: Asian nations recently reached an initial agreement on the establishment of a foreign-exchange reserve pool by year-end to revive investor confidence as economies around the region falter amid the worst global economic recession since World War II.

Japan, Asia’s largest economy, will contribute $38.4 billion, 32 percent of the total reserve while the Chinese mainland and Hong Kong together will add a matching amount. South Korea’s share will be $19.2 billion, or 16 percent…….Full Article: Source


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