Loonie a favorite of central banks

|By:, SA News Editor

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.