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Ottawa, December 3, 1997
1997-110
Official International Reserves
The Department of Finance announced today that Canada's official international reserves decreased by an amount equivalent to U.S. $762 million during November to $18,774 million; official government operations decreased reserves by $1,046 million. Details on the level and composition of Canada's reserves as of November 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 | 15,875 |
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| Other Foreign Currencies | 495 |
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| Gold | 147 |
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| Special Drawing Rights | 1,138 |
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| Reserve Position in IMF | 1,119 |
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| Total: | November 30, 1997 | 18,774 |
| October 31, 1997 | 19,536 |
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| Change | -762 |
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Details of Change |
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| Foreign Currency Debt1 | +247 |
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| Gain on Gold Sales2 | - |
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| Earnings on Investments | +93 |
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| Revaluation Effects | -55 |
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| Official Government Operations | -1,046 |
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| Other Transactions | -1 |
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| Net Change | -762 |
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1. During November, Canada Bills increased by $201.9 million, to a level of outstanding bills of $5,543.2 million and Canada Notes increased by $15 million to a level of outstanding notes of $1,287.2. A Canada Euro Medium-Term Note (EMTN) was issued to raise $30 million. 2. On November 30, gold holdings stood at 3.1 million ounces. |
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Expected Release Dates
In order to assist interested parties, the Department of Finance has decided to provide the expected release dates for this information over the next year. They are as follows with the period covered indicated in brackets:
January 6, 1998 (December 1997)
February 4, 1998 (January 1998)
March 4, 1998 (February 1998)
April 3, 1998 (March 1998)
May 5, 1998 (April 1998)
June 3, 1998 (May 1998)
July 6, 1998 (June 1998)
August 5, 1998 (July 1998)
September 3, 1998 (August 1998)
October 5, 1998 (September 1998)
November 4, 1998 (October 1998)
December 3, 1998 (November 1998)
January 6, 1999 (December 1998)
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For further information:
Wayne Foster
(613) 996-0317
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| Last Updated: 2005-01-04 |
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