WSJ: Emerging Markets Fight Back to Bolster Currencies

Some emerging-market central banks started dipping into roughly $6 trillion reserve stash in June reversal.

Emerging-market central banks are tapping a roughly $6 trillion stash of foreign-exchange reserves as they struggle to contain deepening currency declines.

Policymakers across the developing world built up foreign reserve buffers over the past year, capitalizing on investor interest in higher-yielding emerging market assets.

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