Tuesday, December 18, 2012

Investopedia: Canada And Australia Dollars To Be Reserve Currencices

There's always a difference in the markets between "de facto" ("in practice") and "de jure" ("in law"), and recent announcements regarding international reserve currencies would seem to reflect that difference. Word came out in mid-November that the IMF is likely to reclassify the Australian dollar and Canadian dollar as "official" reserve currencies. While this is indeed a significant development, it seems more a reflection of reality than a major prospective change.

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