Emerging nations turned to FX interventions during pandemic
Central banks in emerging nations twice as likely to implement FX interventions than peers in advanced economies
Central banks in emerging market economies (EMEs) were twice as likely to implement FX interventions than their peers in advanced economies during the pandemic, benchmarks data shows.
Of 42 central banks participating in the Reserve Benchmarks 2021 that answered the question on whether they implemented FX interventions during the pandemic, a third said they did. Among 16 advanced economies, the proportion fell to 18.8%, but rose to 42.31% among the 26 central banks from emerging market
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