Russia moves into Canadian dollars | FT Alphaville

Russia moves into Canadian dollars

Russia’s central bank announced on Wednesday it had started buying Canadian dollars and securities in a bid to diversify its forex reserves. Analysts said the move could herald growing diversification of emerging market central bank assets away from the dollar and into other commodity-linked currencies and assets, such as the Australian dollar. Russia’s forex reserves, the world’s third largest, stood at $439bn in December and were evenly split between dollars and euros.