Russia diversifies into Canadian dollars
By Peter Garnham
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/0/22f1bd26-0...44feabdc0.html
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