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Ottawa, October 4, 1995
1995-076

Official International Reserves

The Department of Finance announced today that Canada's official international reserves decreased by an amount equivalent to U.S. $668 million during September to $16,193 million; official government operations decreased reserves by $734 million. Details on the level and composition of Canada's reserves as of September 30, 1995, as well as the major factors underlying the change in reserves, are provided below.


(Millions of U.S. Dollars)

U.S. Dollars		13,083
Other Foreign Currencies		508
Gold		191
Special Drawing Rights		1,186
Reserve Position in IMF		1,225
Total:	September 30, 1995	16,193
	August 31, 1995	16,861
Change		-668

Details of Change
Foreign Currency Debt [1]		-78
Short Term Swaps [2]		-
Gain on Gold Sales [3]		+18
Earnings on Investments		+82
Revaluation Effects		+27
Official Government Operations [4]		-734
Other Transactions		+17
Net Change		-668

Notes [1] During September, Canada Bills decreased by $78 million, to a level of outstanding bills of $3,288 million. [2] On September 30, there were no outstanding swaps. [3] Includes a reduction in the book value of gold holdings of $2.7 million and an increase in holdings of U.S. dollars of $20.2 million due to sales of 53 thousand ounces of gold. On September 30, gold holdings stood at 3.6 million ounces. [4] Includes an increase in reserves of $103.1 million from proceeds of sales of Petro-Canada shares.

___________________
For further information:

Jon Cockerline
(613) 992-4468



		Last Updated: 2002-11-26			Important Notices