SYDNEY: The Reserve Bank of Australia (RBA) sold A$381 million ($341 million) of Australian dollars on a net basis on the spot foreign exchange market during August, central bank data shows.
The RBA manages the forex needs of the government, which for example may need foreign currency to buy military hardware or pay embassy wages, and that usually makes up the vast bulk of its spot transactions in any month.
The RBA sold A$408 million for foreign currency on behalf of the government in August.
The central bank rarely intervenes directly and typically only when the market has become disorderly, as it did in October 2008 following the failure of Lehman Brothers.
Following are the RBA's recent net Australian dollar transactions in A$ millions, its outstanding forward foreign exchange commitments and total holdings of official reserve assets (including foreign exchange holdings).
Comments
Comments are closed.