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Release at 8:15 a.m. EDT
Ottawa, July 4, 1996
1996-047
Official International Reserves
The Department of Finance announced today that Canada's official international reserves increased by an amount equivalent to U.S. $337 million during June to $18,731 million; official government operations increased reserves by $7 million. Details on the level and composition of Canada's reserves as of June 30, 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 |
15,677 |
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Other Foreign Currencies |
506 |
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Gold |
160 |
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Special Drawing Rights |
1,157 |
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Reserve Position in IMF |
1,231 |
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Total: |
June 30, 1996 | 18,731 |
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May 31, 1996 | 18,394 |
Change |
+337 |
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Details of Change |
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Foreign Currency Debt [1] |
+255 |
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Gain on Gold Sales [2] |
+6 |
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Earnings on Investments |
+76 |
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Revaluation Effects |
-2 |
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Official Government Operations |
+7 |
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Other Transactions |
-5 |
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Net Change |
+337 |
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Notes 1. During June, Canada Bills decreased by $189.7 million, to a level of outstanding bills of $4,947.6 million. Sales of Canada Notes totalled $445 million, increasing the level of outstanding notes to $1,218.2 million. 2. Includes a reduction in the book value of gold holdings of $0.8 million and an increase in holdings of U.S. dollars of $6.4 million due to sales of 16 thousand ounces of gold. On June 30, 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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