Czech Central Bank Switched Some Euro Reserves to Aussie in 2011

The Czech central bank switched part of its foreign-currency reserves from the euro to Australian dollars in December 2011, the bank said today.

Czech reserves held in the so-called Aussie accounted for 5.3 percent of the central bank’s portfolio at the end of last year, the Prague-based Ceska Narodni Banka said in its annual report published on its website. Reserves held in the euro remained the largest part of its holdings, accounting for 56.4 percent, the bank said.

To contact the reporter on this story: Peter Laca in Prague at placa@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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