News Headline Summary
Australian Financial Review writes: "The Russian central bank has begun its AUD buying program in earnest according to traders, helping to explain the currency’s persistent strength despite recent interest rate cuts"
- According to press reports, the central bank has been buying tranches of Australian dollars over the past six months in a push to build up its reserves.
Analysis details (08:53)
- Back in 2011, the central bank announced its plans to acquire AUD 5.1bln, or 1% of its total USD 526.4bln of total reserves, in Australian dollars.
12 Nov 2012 - 08:49
Subscribe Now to
Click here for a 1 week free trial
RANsquawk provides audio news and commentary for over 15,000
professional traders and brokers worldwide. Services include:
Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
Teams of analysts covering equities, fixed income, FX, energy, and metals markets
Real-time scrolling news service with instant analysis
Daily and weekly pre-market research and calendars
Video updates covering near-term key risk events & primary trading themes
One-to-one chat with our expert analysts