Latest / The Emerging Markets Podcast with Fexingo: Developing Economies, Growth, and Investment
How Emerging Market Currencies Are Quietly Rebuilding Reserves
In this episode of The Emerging Markets Podcast, Lucas and Luna look past the recent equity swings to a quieter story: emerging market central banks are rebuilding foreign exchange reserves in 2026, and the data is starting to show it. They anchor on the dollar's modest retreat this summer — the trade-weighted dollar index dipped to 119.1 in early August after months at multi-decade highs — and note the yen's strengthening from 158.5 to 157.5 per dollar, a sign that pressure on EM currencies may be easing. Using recent balance-of-payments data, they explain why countries like South…
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