Asian govts spent $50 bn in Sept to defend currencies from strong US dollar

Dollar sales in the region over the first nine months of the year have reached approximately $89 billion including Japan, marking the most active period for foreign-exchange expenditures

Asian governments spent about $50 billion in foreign-exchange reserves last month -- the highest level since March 2020 -- to defend their currencies from a relentless advance in the US dollar.
 

Exante Data Inc., a firm that specializes in tracking global capital flows, estimates emerging Asian nations excluding China spent nearly $30 billion with dollar sales in the spot market in September alone. That number rises to $50 billion when Japan is included. 

Dollar sales in the region over the first nine months of the year have reached approximately $89 billion including Japan, marking the most active period for foreign-exchange