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Ottawa, June 4, 1997
1997-048
Official International Reserves
The Department of Finance announced today that Canada's official international reserves increased by an amount equivalent to U.S. $1,169 million during May to $21,025 million; official government operations increased reserves by $966 million. Details on the level and composition of Canada's reserves as of May 31, 1997, 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 | 18,084 | |
| Other Foreign Currencies | 515 | |
| Gold | 150 | |
| Special Drawing Rights | 1,146 | |
| Reserve Position in IMF | 1,130 | |
| Total: | May 31, 1997 | 21,025 |
| April 30, 1997 | 19,856 | |
| Change | +1,169 | |
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Details of Change |
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| Foreign Currency Debt(1) | +30 | |
| Gain on Gold Sales(2) | - | |
| Earnings on Investments | +99 | |
| Revaluation Effects | +70 | |
| Official Government Operations | +966 | |
| Other Transactions | +4 | |
| Net Change | +1,169 | |
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(1) During May, Canada Bills increased by $40.4 million, to a level of outstanding bills of $5,437.4 million and Canada Notes decreased by $10 million to a level of outstanding notes of $1,302.2 million. (2) On May 31, gold holdings stood at 3.1 million ounces. |
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For further information:
Charlie Seeto
(613) 992-6747
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| Last Updated: 2005-01-04 |
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