RBA reduces share of euro in reserves
Australian central bank cuts euro holdings by 10% while nearly doubling RMB share of reserves
The Reserve Bank of Australia (RBA) cut the euro share of its reserve portfolio by 10% over the past year, while nearly doubling the proportion of renminbi assets, figures from the central bank's latest annual report show.
The RBA's reserve holdings grew marginally over the 12 months to July, despite the global low-yield environment, and are currently worth about A$50 billion ($31.4 billion net), according to the report, which was published today (October 22).
Euro holdings were pared back, the
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