28 Jun 2013
Flash: AUD, CAD become global FX fixtures – ANZ
FXstreet.com (New York) - The release of new COFER data from the IMF shows that the AUD and CAD constitute an important part of global foreign exchange reserves, suggests FX Strategist Andrew Salter at ANZ.
The AUD accounts for 1.6% of global allocated reserves; the CAD also 1.6%.
The IMF today released new and more detailed data on the currency composition of foreign exchange reserves (COFER). The Australian and Canadian dollars were included as separately reported items for the first time. According to Salter, “These data provide a unique insight into central banks’ reserve allocations, and suggest both the AUD and CAD are non-trivial components of the international monetary system.”
The AUD accounts for 1.6% of global allocated reserves; the CAD also 1.6%.
The IMF today released new and more detailed data on the currency composition of foreign exchange reserves (COFER). The Australian and Canadian dollars were included as separately reported items for the first time. According to Salter, “These data provide a unique insight into central banks’ reserve allocations, and suggest both the AUD and CAD are non-trivial components of the international monetary system.”