This can only go on so long before the central bank runs out of foreign currency reserves with which to intervene.
He offered no figures on how low the foreign currency reserves were.
Argentina paid it with the central bank's foreign currency reserves.
The market opened due to growing Japanese foreign currency reserves during late 60's.
Over the last five years, its foreign currency reserves have multiplied by eight, to more than $200 billion.
He said that Lithuania had about $500,000 in foreign currency reserves.
And the country was running out of foreign currency reserves to defend the pound.
This gold and the bank's other currency reserves were under the control of the London board.
It will be used in international trading and for currency reserves.
The bank said it had also used some of its existing credit lines to increase foreign currency reserves.
"China is sitting on $700 billion in foreign reserves and has a lot of money," he said.
The Government had paid for that support from foreign reserves.
The nation has foreign exchange reserves of more than $75 billion.
About $2 billion sits in the bank as foreign reserves.
However, a few years later, it had no foreign reserves of any consequence.
Government officials have said that foreign reserves now total $18 billion, nearly triple the figure at the end of last year.
It now has a foreign exchange reserve of $54 billion, the second largest in the world.
India's foreign exchange reserves are at a record high of more than $100 billion.
Many developing countries have seen big increases in their foreign reserves over the past couple of years.
The only developing country with large foreign reserves is Taiwan, in third place.
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