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.

Update details:

- 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.

Print 08:49, 12 Nov 2012 - FX Flows - Source: AFR