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The Shrinking Currencies Subclass Code_705H Each site is assessed notIn May 2013, Ben Bernanke, Chairman of the US Federal Reserve, announced the possibility that the US would taper its QE 3 financial plans, slowing its bond buying programme from US$ 85 billion per month to US$ 65 billion per month. This announcement alone threatened the sovereignty of currencies in major economies across Southeast Asia. By January 2014, the Ringgit had fallen by 13. 0% against the US dollar. The baht dropped 15. 6% while the rupiah