The U.S. dollar is at its highest level since 2000, having appreciated 22% against the yen, 13% against the Euro and 6% against emerging market currencies since the start of this year
The U.S. dollar is at its highest level since 2000, having appreciated 22% against the yen, 13% against the Euro and 6% against emerging market currencies since the start of this year
The IMF has urged countries to preserve vital foreign reserves to deal with potentially worse outflows and turmoil in the future, amidst appreciation of the U.S. dollar and depreciation of other major currencies, including the Indian rupee.
In a blog post by the First Deputy Managing Director of the IMF Gita Gopinath and the global lending body’s Chief Economist Pierre-Olivier Gourinchas, they said that in such a fragile environment, it is prudent to enhance resilience. Although emerging market central banks have stockpiled dollar reserves in recent years, reflecting…
