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Russia diversifies into Canadian dollars
Russia’s central bank announced on Wednesday that it had started buying
Canadian dollars and securities in a bid to diversify its foreign exchange
reserves.
Analysts said the move could be a sign of increased diversification of
emerging market central bank assets away from the dollar and into
investments denominated in other commodity-linked currencies, such as the
Australian dollar.
http://www.ft.com/cms/s/0/22f1bd26-05db-11df-8c97-00144feabdc0.html
Russia’s central bank announced on Wednesday that it had started buying
Canadian dollars and securities in a bid to diversify its foreign exchange
reserves.
Analysts said the move could be a sign of increased diversification of
emerging market central bank assets away from the dollar and into
investments denominated in other commodity-linked currencies, such as the
Australian dollar.
http://www.ft.com/cms/s/0/22f1bd26-05db-11df-8c97-00144feabdc0.html