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Ottawa, March 5, 1996
1996-014
Official International Reserves
The Department of Finance announced today that Canada's official international reserves decreased by an amount equivalent to U.S. $239 million during February to $14,741 million; official government operations decreased reserves by $109 million. Details on the level and composition of Canada's reserves as of February 29, 1996, 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 |
11,664 |
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Other Foreign Currencies |
511 |
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Gold |
171 |
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Special Drawing Rights |
1,171 |
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Reserve Position in IMF |
1,224 |
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Total: |
February 29, 1996 | 14,741 |
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January 31, 1996 | 14,980 |
Change |
-239 |
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Details of Change |
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Foreign Currency Debt [1] |
-279 |
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Short Term Swaps [2] |
- |
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Gain on Gold Sales [3] |
+6 |
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Earnings on Investments |
+101 |
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Revaluation Effects |
+37 |
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Official Government Operations |
-109 |
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Other Transactions |
+5 |
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| Net Change | -239 |
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Notes[1] During February, net sales of Canada Bills totalled $721 million, increasing the level of outstanding bills to $3,686 million. A $1 billion bond was repaid on February 27. [2] On February 29, there were no outstanding swaps. [3] Includes a reduction in the book value of gold holdings of $0.9 million and an increase in holdings of U.S. dollars of $7.3 million due to sales of 18 thousand ounces of gold. On February 29, gold holdings stood at 3.3 million ounces. |
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___________________
For further information:
Jon Cockerline
(613) 992-4468
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| Last Updated: 2004-03-21 |
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