| The Canadian dollar isn't looking great compared to its U.S. counterpart of late, but foreign governments are buying up more loonies to keep in their currency reserves — a vote of confidence in the loonie over the long run.
Most countries stockpile reserves of other countries' currencies in their central banks, both as a way of paying for things denominated in those countries, and as a general stockpile of wealth. As it stands, world governments currently have more than $12 trillion worth of other people's currencies hoarded, a figure that's increased by more than $140 billion in recent months as governments pad their rainy day funds...............................................Full Article: Source
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