SINGAPORE: Asias massive foreign exchange reserve holdings have levelled off over the last five months, with China the exception, and analysts say a stronger US dollar has lessened the need for intervention on currencies.
Reserves held by Asian central banks reached US$2.215 trillion at the end of August, the latest central bank figures showed. China is the only country not to have released reserve holdings for August. Asian reserves excluding China rose by US$14bil, just 0.6%, in August.