Czech central bank diversifies FX portfolio to cut exposure to euro.

By bne IntelliNews May 31, 2012
In a bid to cut exposure to the euro, the Czech central bank diversified its foreign-currency reserves portfolio by transferring some reserves from euro to Australian dollars, the bank said in its 2011 annual report published on its website. The share of reserves held in Australian dollars now stands at 5.3% of overall reserves. Euro reserves account for 56.4% of the total, followed by US dollars with a share of 21.3%, Canadian dollars (7.2%), Swedish crown (3.6%), Japanese yen (2.8%), British pound (2.6%) and gold (0.8%). The banks FX reserves stood at CZK 803bn as of end-2011.
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