Reserve Bank of Australia Says 23 Countries Holding AUD

Submitted by Share Trading on 18 September, 2012 - 08:25

The Reserve Bank of Australia (RBA) has announced that up to 23 countries are holding the Australian Dollar.

  • The RBA said that up to 23 national central banks are holding Australian dollar currency.
  • Bloomberg had requested RBA on a Freedom of Information Act request which revealed that Brazil, Russia, Germany, Hong Kong, South Korea, Poland, Sweden, and Switzerland central banks are holding the AUD.
  • Possible buyers listed include: Peru, Iceland, Indonesia, Jordan, Malaysia and Singapore
  • Recently the AUD has risen against the USD after US Fed chairman Ben Bernanke has announced QE3 (Quantitative Easing 3) where he will be printing an additional $US40 billion per month to buy mortgage debt.
  • RBA governor Glenn Stevens last month called the currency's level "a bit on the high side".

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