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Ottawa, July 4, 1997
1997-053
Official International Reserves
The Department of Finance announced today that Canada's official international reserves increased by an amount equivalent to U.S. $233 million during June to $21,258 million; official government operations decreased reserves by $283 million. Details on the level and composition of Canada's reserves as of June 30, 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 | 18,338 | |
| Other Foreign Currencies | 502 | |
| Gold | 150 | |
| Special Drawing Rights | 1,142 | |
| Reserve Position in IMF | 1,126 | |
| Total: | June 30, 1997 | 21,258 |
| May 31, 1997 | 21,025 | |
| Change | +233 | |
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Details of Change |
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| Foreign Currency Debt [1] | +445 | |
| Gain on Gold Sales [2] | - | |
| Earnings on Investments | +90 | |
| Revaluation Effects | -10 | |
| Official Government Operations | -283 | |
| Other Transactions | -9 | |
| Net Change | +233 | |
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1. During June, Canada Bills increased by $455.1 million, to a level of outstanding bills of $5,892.5 million and Canada Notes decreased by $10 million to a level of outstanding notes of $1,292.2 million. 2. On June 30, gold holdings stood at 3.1 million ounces. |
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For further information:
Rob Stewart
(613) 992-4468
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| Last Updated: 2005-01-04 |
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