Russia Announces the Aussie as a Reserve Currency

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Aussie gains in currency trading

The Aussie is rising today, thanks to newfound popularity with the Russians. The Russian central bank deputy minister announced that the Australian dollar will be used as a reserve currency going forward.

Indeed, Russian announced that the Aussie will begin being used as a reserve currency possibly in February. This news has provided a boost to the popularity of the Australian dollar in forex trading, since there will be increased demand.

Also helping the Aussie today is the rise in gold prices. Aussie relies on gold prices for support, and the surge in gold right now is positive for the Australian dollar. It is little surprise that the Aussie is doing so well in currency trading on the FX market today. 

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