2010/12/04

"Russia buying Canadian dollars, eyes other currencies" from South China Morning Post

"Moscow: Russia has started adding the Canadian dollar to its international reserves and may increase those holdings in coming months, said Alexei Ulyukayev, first deputy chairman of Russia's central bank."So far, the amounts are very small, but there's perhaps potential for increasing our holdings," Ulyukayev said. Russia aims to diversify its reserves, the world's third-biggest, and promote the use of regional currencies in international trade and finance to reduce risks posed by US dollar. It has said it also plans to increase gold holdings and may consider including other currencies, including the Australian dollar."

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