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Ottawa, October 3, 1997
1997-086
Official International Reserves
The Department of Finance announced today that Canada's official international reserves increased by an amount equivalent to U.S. $13 million during September to $20,094 million; official government operations decreased reserves by $70 million. Details on the level and composition of Canada's reserves as of September 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 | 17,197 | |
| Other Foreign Currencies | 509 |
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| Gold | 147 |
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| Special Drawing Rights | 1,131 |
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| Reserve Position in IMF | 1,110 |
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| Total: |
September 30, 1997 |
20,094 |
| August 31, 1997 |
20,081 | |
| Change | +13 |
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Details of Change |
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| Foreign Currency Debt(1) | -6 | |
| Gain on Gold Sales(2) | - |
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| Earnings on Investments | +87 | |
| Revaluation Effects | +11 | |
| Official Government Operations | -70 |
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| Other Transactions | -9 | |
| Net Change | +13 |
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| 1. During September, Canada Bills decreased by $206.5 million, to a level of
outstanding bills of $5,195.2 million. A cross currency swap of domestic obligations
raised U.S. $250 M. Outstandings under the Canada Euro Medium Term Note (EMTN) program
fell by $50 million.
2. On September 30, 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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