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Official International Reserves
The Department of Finance announced today that Canada's official international reserves increased by an amount equivalent to U.S. $1,031 million during May to $18,394 million; official government operations decreased reserves by $184 million. Details on the level and composition of Canada's reserves as of May 31, 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 |
15,346 |
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Other Foreign Currencies |
502 |
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Gold |
161 |
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Special Drawing Rights |
1,156 |
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Reserve Position in IMF |
1,229 |
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Total: |
May 31, 1996 | 18,394 |
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April 30, 1996 | 17,363 |
Change |
+1,031 |
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Details of Change |
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Foreign Currency Debt [1] |
+1,121 |
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Gain on Gold Sales [2] |
14 |
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Earnings on Investments |
+82 |
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Revaluation Effects |
-19 |
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Official Government Operations |
-184 |
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Other Transactions |
+17 |
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Net Change |
+1,031 |
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Notes [1] During May, net sales of Canada Bills totalled $25.7 million, increasing the level of outstanding bills to $5,137.3 million. Sales of Canada Notes totalled $95 million, increasing the level of outstanding notes to $773.2 million. A 5-year Global Bond was issued to raise $1.0 billion. [2] Includes a reduction in the book value of gold holdings of $2.1 million and an increase in holdings of U.S. dollars of $16.2 million due to sales of 40 thousand ounces of gold. On May 31, gold holdings stood at 3.2 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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