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Ottawa, January 6, 1999
1999-002
Official International Reserves
The Department of Finance announced today that Canada's official international reserves increased by an amount equivalent to U.S. $85 million during December to $23,427 million; official government operations decreased reserves by $85 million. Details on the level and composition of Canada's reserves as of December 31, 1998, as well as the major factors underlying the change in reserves, are provided below.
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(Millions of U.S. Dollars) |
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| U.S. Dollars | 15,907 |
| Other Foreign Currencies | 4,004 |
| Gold | 122 |
| Special Drawing Rights | 1,097 |
| Reserve Position in IMF | 2,297 |
| Total: December 31, 1998 | 23,427 |
| November 30, 1998 | 23,342 |
| Change | +85 |
Details of Change |
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| Foreign Currency Debt(1) | -79 |
| Gain on Gold Sales(2) | - |
| Earnings on Investments | +125 |
| Revaluation Effects | +121 |
| Official Government Operations | -85 |
| Other Transactions | +3 |
| Net Change | +85 |
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(1) During December, Canada Bills decreased by $589.4 million, to a level of outstanding bills of $6,621.6 million and Canada Notes decreased by $90 million, to a level of outstanding notes of $416 million. Fixed and floating cross currency swaps of domestic obligations raised $600 million. (2) On December 31, gold holdings stood at 2.5 million ounces. |
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Future Release Dates
The next release date is February 3, 1999 (covering the period of January 1999).
A list of upcoming release dates is posted on the Department of Finance website located at: www.fin.gc.ca/invest_x/releaseDates_e.asp.
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Wayne Foster
(613) 996-0317
Jean-Michel Catta
Public Affairs and Operations Division
(613) 992-1574
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| Last Updated: 2002-10-10 |
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