by Kevin Carmichael, The Globe and Mail:
The world’s central banks are stashing away Canadian dollars at a faster rate than any other major currency, a vote of confidence at a time when the loonie has lost some of its shine in foreign-exchange markets.
Official holdings of Canadian dollars surged 23.6 per cent to $112.5-billion (U.S.) in the third quarter from the fourth quarter of 2012, according to new International Monetary Fund data released Monday.
The nine-month period marked the Canadian dollar’s debut on the IMF’s list of currencies held as foreign-exchange reserves by the countries that participate in its voluntary quarterly surveys
Please follow SGT Report on Twitter & help share the message.