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China, Japan, S. Korea agree on 120b USD fund
Published on: 2009-01-19
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China, Japan and South Korea have agreed to create a pool of 120 billion USD in foreign-exchange reserves to be tapped by Asian nations in case they need to protect their currencies, Bloomerg reported. The three nations and the 10-member Association of Southeast Asian Nations plan to announce the agreement at the ASEAN Summit to be held in Thailand from 27 February to 1 March.
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