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<p>Foreign-exchange reserves in Asia are declining as countries like the Philippines, India, and Indonesia spend to defend their currencies amid rising oil prices due to the Iran war. The Philippines' reserves fell 8.1% to $104 billion, India's by 5.2% to $691 billion, and Indonesia's by 3.8% to $146 billion. Central banks are intervening in currency markets, and policymakers are considering measures like raising interest rates and import tariffs to stabilize their economies and currencies.</p>

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War turmoil saps Asian reserves with Philippines, India hit most

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War turmoil saps Asian reserves with Philippines, India hit most