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Ottawa, April 5, 1995
1995-031

Official International Reserves

The Department of Finance announced today that Canada's official international reserves increased by an amount equivalent to U.S. $277 million during March to $14,807 million; official government operations decreased reserves by $638 million. Details on the level and composition of Canada's reserves as of March 31, 1995, as well as the major factors underlying the change in reserves, are provided below.

(Millions of U.S. Dollars)
U.S. Dollars  11,522
Other Foreign Currencies 473
Gold 212
Special Drawing Rights 1,405
Reserve Position in IMF 1,195
Total: March 31, 1995 14,807
February 28, 1995 14,530
Change +277

Details of Change

Foreign Currency Debt[1] +687
Short Term Swaps[2] -
Gain on Gold Sales[3] -
Earnings on Investments +70
Revaluation Effects +162
Official Government Operations  -638
Other Transactions -4
Net Change +277

Notes
 [1] During March, net sales of Canada Bills totalled $407 million, increasing the level of outstanding bills to $6,465.2 million. Also reflected is a long-term swap of funds obtained through domestic operations to raise U.S. $286 million.
[2] On March 31, there were no outstanding swaps.
[3] On March 31, gold holdings stood at 3.9 million ounces.

Suzanne McKellips
(613) 992-5259

Last Updated: 2002-11-26

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