BLBG: Reserve Bank Faces Losses From Australian Dollar’s Gain, Australian Says
Australia’s central bank may face losses of as much as A$6 billion as the country’s strengthening currency erodes the value of the bank’s foreign-exchange reserves, the Australian newspaper reported. The RBA, which had A$43 billion of foreign-exchange reserves at the end of June, may not be able to pay a dividend to the government for several years, the newspaper reported, without saying where it got the information.
To contact the reporter on this story: Angus Whitley in Sydney at awhitley1@bloomberg.net
To contact the editor responsible for this story: Tim Smith at tsmith58@bloomberg.net
