Australian Official Reserve Assets Continue To Increase

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Monday, the Reserve Bank of Australia announced that official reserve assets increased in July to US$44.05 billion from US$42.44 billion in June. Changes in the value of official reserve assets indicate foreign exchange transactions by the central bank, earnings on foreign securities, transactions with official institutions overseas and valuation effects arising from changes in the foreign currency value of the assets and exchange rates.

Foreign exchange totaled US$40.54 billion, larger than the US$39 billion reported in June. Also, reserve position with IMF climbed to US$925 million and gold rose to US$2.41 billion in July. Meanwhile, SDRs remained at US$174 million.

In July, the value of official reserve assets rose A$892 million to A$53.2 billion.

Monday, the Reserve Bank of Australia announced that official reserve assets increased in July to US$44.05 billion from US$42.44 billion in June. (Market News Provided by RTTNews)