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Loonie set to join the elite club of reserve currencies

Posted on 20 November 2012

Welcome to the big leagues. The International Monetary Fund is adding the Canadian dollar to the elite band of currencies it formally tracks as reserve assets, a nod to the loonie’s established appeal among central banks seeking to diversify their reserves.
Inclusion in the IMF’s Composition of Foreign Exchange Reserves, or COFER, largely amounts to a technical change for the loonie and the Australian dollar, which is also being added………………………………………..Full Article: Source


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