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

The turnaround in profit is mostly attributed to gains in its securities and foreign exchange investments. The bank moved from a net loss of $1.4 billion in 2017 to a $2.2 billion net gain this year.  

The reserve bank maintained its largest allocation to the US dollar, at 55% of the portfolio, as of the end of June 2018. In