21
January
Moscow buys Canadian dollars and bonds to diversify reserves
21 January 2010 The Financial Times
Russia's central bank revealed yesterday that it had started buying Canadian dollars and securities in an attempt 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.
Alexei Ulyukayev, first deputy chairman of Russia's central bank, said that it would invest in Canadian dollar-denominated deposits and bonds.
http://www.ft.com/cms/s/0/1751bda6-062e-11df-8c97-00144feabdc0.html
