European sovereign debt crisis and fears of a worldwide economic slowdown have led to Central banks around the world to try to “rescue their beleaguered currencies” in 2011. Selling dollar reserves, lowering interest rates, and enacted new regulations are all part of an unprecedented series of protectionist currency interventions in emerging markets.
Year of the Intervention
ERIN MCCARTHY AND PRABHA NATARAJAN
WSJ, DECEMBER 31, 2011