Seeking Alpha

Loonie a favorite of central banks

  • Official holdings of Canadian dollars jumped 23.6% Y/Y to $112.5B in Q3, according to the IMF, though that represents just 1.9% of allocated central bank reserves - about the same as the Australian dollar, but less than half of the pound or yen (the greenback is 61%).
  • The loonie (FXC) is off about 7% vs. the greenback this year amid slumping commodity prices (among other factors) - it's the largest decline for the currency since 2008.
Comments (1)
  • JoeMRI
    , contributor
    Comments (18) | Send Message
    Not good for our Florida trips.
    31 Dec 2013, 09:01 AM Reply Like
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