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Emerging market central banks building up foreign reserves

They are replenishing shortfalls created as they try to prop up their currencies during recent routs

By accumulating reserves, the central banks are preparing for potential disruption once the Federal Reserve raises US interest rates, which may drain capital away from emerging markets.

New York

CENTRAL banks in developing economies are taking advantage of the biggest rally in their currencies since 2010.

Led by Turkey and Thailand, they're using stronger exchange rates to build up foreign reserves for the first time in two years, replenishing shortfalls created...

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