Loonie poised to join elite group of global reserve currencies

Canada’s triple-A credit rating, stable economy and resource riches have made the loonie increasingly enticing to foreign central banks.

Now the International Monetary Fund appears poised for the first time to include the Canadian dollar in an elite group of global reserve currencies.

The IMF quietly endorsed a staff report this month that recommends that both the Canadian and Australian dollars “be considered for inclusion” in the short list of currencies that it tracks in a quarterly report on central bank reserves.

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