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RBA: Printing AUS dollars ~ selling them to foreign central banks?

Posted by on in Reserve Bank of Australia
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RBA could already be selling $A overseas: UBS


[Published: 7 Nov 2012] --

Investment bank UBS believes the Reserve Bank of Australia (RBA) could already be printing Australian dollars and selling them to foreign central banks in a bid to minimise buying pressure on the currency, The Australian Financial Review reports.

Such a move is said to be an exact adherence to suggestions made by former RBA board member Warwick McKibbin to the newspaper in August.

According to the AFR, UBS analysts Gareth Berry and Andrew Lilley have raised concerns over what they deem to be a sudden accumulation of foreign exchange on the central bank's balance sheet during the months of August and September.

The accumulation has been labelled a form of “passive intervention” and reportedly been matched by a lift in deposits of overseas institutions held at the RBA.

In the week ending October 31, $2.1 billion is reported to have been deposited, which constitutes the highest weekly inflow since May 2009, while numbers are said to have been consistently high since late August.


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  • doyla66
    doyla66 Wednesday, 07 November 2012

    Thanks for posting this, Andy. I heard about this and had been looking for the 'evidence'.
    Could someone please explain to me what this means and/or why RBA are doing it?
    Does this increase the value of the Australian dollar or reduce it - or doesn't it make any difference?

  • doyla66
    doyla66 Wednesday, 07 November 2012

    .....Hmmm? .....most interesting .......Yoda... also spoke to the RBA in August! ...... suggested that they "secretly" print money to pay off Australia's debts while the dollars would lower the currency .....and extinguish our foreign debt......

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