Friday, November 26, 2010

Russia buys Canadian dollars, may add Australian dollar

Russia has reportedly added the Canadian dollar to the basket of currencies that comprise its international foreign-exchange reserves and indicated the Australian dollar will likely be the next addition.

Ulyukayev reportedly said Russia plans to increase the size of its Canadian dollar holdings in coming months as part of changes to its reserve holdings, also made up of the U.S. dollars, euros, British pounds, and Japanese yen. 

Ulyukayev also said the Russia central bank is still considering whether it should add the Australia dollar to its reserves’ holding, reaffirming statements earlier this year that it may add the commodity-backed currency as it diversifies away from the U.S. dollar.

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