Russia advances Canadian dollar position


The Bank of Russia has started investing in assets denominated in the Canadian dollar and is looking to increase its holdings of such assets in a bid to diversify its reserves and reduce exposure to the greenback.

In comments confirmed Thursday by the central bank, Alexei Ulyukayev, its first deputy chairman, said: "We have recently begun investing in assets denominated in the Canadian dollar. So far the amounts are very small, but there's perhaps potential for increasing our holdings."


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