Czech National Bank shifts reserves away from euro


The Czech National Bank (CNB) on May 30 published its Annual Report for 2011, which revealed part of the bank's euro reserve holdings had been transferred into Australian dollars.

"The Australian dollar portfolio was created in December 2011 by transferring part of the euro portfolio," said the report.

A graph depicting the currency structure of the actively managed portfolio of international reserves shows 5.3% were held in the Australian currency at the end of December. However, despite the

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