Canada sees growing global role for currency

China, Russia may boost their holdings as greenback declines

MONTREAL: Canada's Finance Minister Jim Flaherty said China, with the world's largest currency reserves of $2.3 trillion, may be poised to buy Canadian dollars as it seeks to shield its reserves against the US dollar's decline.

"It does not surprise me that China and Russia would take greater positions in the Canadian dollar than they have previously," Flaherty said during an interview in his office in Ottawa.