RBA reserves decline sharply during Covid-19 crisis

flags currency foreign exchange and technology

The foreign exchange reserve assets of the Reserve Bank of Australia have sharply fallen during the Covid-19 crisis, official data published today (September 7) shows.

Reserves have fallen from $46.7 billion in March 2020 to $33.5 billion in August. In addition, the value of the central bank’s gold holdings has decreased from $5.3 billion to $5 billion over the same period.

“Changes in the value of official reserve assets reflect purchases and sales (including swaps) of foreign exchange by the

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