May 14, 2026
Asian forex reserves slump due to US-Iran war oilUS-Iran war oil price spike
Foreign exchange reserves in Asia have declined sharply as countries like the Philippines and India spend funds to support their currencies amid soaring oil prices from the US-Iran war.
India and the Philippines recorded the highest percentage losses since the conflict drove crude above $100 per barrel. The turmoil highlights the vulnerability of emerging Asian economies to global energy shocks.
- Strait of Hormuz handles 20% of global oil trade, explaining war-driven price surges.
- India's 2025 rupee intervention cost its central bank over $20 billion in reserves.
- Philippines' 1973 oil crisis response birthed its sovereign wealth fund.
US-Iran-Israel War
US, Israeli, and Iranian forces remain in a direct military confrontation that has spread across the Gulf, with the Strait of Hormuz and regional energy infrastructure at the center of the conflict.
View full topic
