March 4, 2024

The Reserve Bank of Australia made a profit of A$3.8 billion ($2.8 billion) in 2018, up from a loss of A$657 million in 2017, the central bank’s annual report said.

The turnaround in profits was mainly attributable to gains on its securities and foreign exchange investments. The bank swung from a net loss of $1.4 billion in 2017 to a net gain of $2.2 billion this year.

As of the end of June 2018, the Reserve Bank maintained its largest allocation to the dollar at 55% of the portfolio.