Aussie dollar gains result in $4.78 billion loss for central bank


The Reserve Bank of Australia (RBA) reported a net loss of A$4.9 billion ($4.78 billion) in the 12 months to June 30, 2011, according to the central bank's Annual Report, published on Thursday.

The accounting loss builds on a loss of A$2.9 billion reported last year, owed largely to valuation losses on foreign assets amounting to A$5.8 billion due to the appreciation of the Australian dollar against a basket of currencies.

A remarkable A$4.6 billion of the decline was due to unrealised valuation

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