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Ottawa, November 5, 1996
1996-080
Official International Reserves
The Department of Finance announced today that Canada's official international reserves increased by an amount equivalent to U.S. $536 million during October to $20,029 million; official government operations increased reserves by $157 million. Details on the level and composition of Canada's reserves as of October 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 |
16,958 |
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Other Foreign Currencies |
507 |
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Gold |
156 |
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Special Drawing Rights |
1,167 |
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Reserve Position in IMF |
1,241 |
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Total: October 31, 1996 |
20,029 |
| September 30, 1996 |
19,493 |
| Change | +536 |
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Details of Change |
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Foreign Currency Debt [1] |
+287 |
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Gain on Gold Sales [2] |
+6 |
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Earnings on Investments |
+96 |
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Revaluation Effects |
+8 |
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Official Government Operations |
+157 |
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Other Transactions |
-18 |
| Net Change | +536 |
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Notes 1. During October, Canada Bills increased by $287.2 million, to a level of outstanding bills of $5,124.4 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 $6.5 million due to sales of 16 thousand ounces of gold. On October 31, gold holdings stood at 3.1 million ounces. |
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For further information:
Rob Stewart
(613) 992-4468
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| Last Updated: 2004-03-21 |
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