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RESERVE BANK OF AUSTRALIA

Management of Foreign Currency Reserves

List of tables

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Table 1: Foreign Currency Reserves Ratios (2005)1
  Australia Industrialised Nations2
Average Low High
1. Official Reserves Assets (ORA) as defined by the IMF.
2. These countries include the US, UK, Japan, the Euro-Area, Switzerland, New Zealand and Canada. The figures in brackets exclude Japan.
3. Non-resident banking claims and debt securities outstanding with a residual maturity less than 1-year as published by the BIS.
4. Turnover figures from Triennial Central Bank Survey 2004, as published by the Bank for International Settlements.
Reserves to GDP (%) 6 6 (4) 1 17 (11)
Reserves Import Cover (months) 3 3 (1) 0 17 (3)
Reserves to Short-Term Debt3 (%) 23 41 (12) 2 213 (29)
Reserves to FX Turnover (days)4 0.9 1.2 (0.7) 0.1 4.5 (1.1)
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Table 2: Benchmarks
  US Europe Japan
Currency allocation (%) 45 45 10
Asset allocation (%) 45 45 10
Duration (months) 30 30 30
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Table 3: Benchmark Composition (%)
  US Europe Japan
1. Sovereign instruments with terms to maturity not exceeding twelve months.
Deposits 9 18 2
Repurchase Agreements 15 12 16
Short-Term Securities1 28 20 42
Long-Term Securities 48 50 40
Total 100 100 100
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