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‘Fight’ against dollar lowered foreign reserves of countries around the world, says IMF

Foreign currency reserves around the world shrank by 10% in the first nine months of last year, as countries like Japan struggled to defend their currencies against the rapidly strengthening dollar.

The global total fell to US$11.6 trillion at the end of September, falling below US$12 trillion for the first time since March 2020, according to the International Monetary Fund (IMF).

"This likely reflects countries selling reserves, mainly dollars, to . . .

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