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Ottawa, March 5, 1997 1997-017
Official International Reserves
The Department of Finance announced today that Canada's official international reserves increased by an amount equivalent to U.S. $155 million during February to $21,044 million; official government operations decreased reserves by $175 million. Details on the level and composition of Canada's reserves as of February 28, 1997, as well as the major factors underlying the change in reserves, are provided below.
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(Millions of U.S. Dollars) |
|
U.S. Dollars |
18,110 |
Other Foreign Currencies |
505 |
Gold |
150 |
Special Drawing Rights |
1,132 |
Reserve Position in IMF |
1,147 |
Total:
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February 28, 1997
|
21,044 |
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January 31, 1997
|
20,889 |
Change |
+155 |
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Details of Change
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|
Foreign Currency Debt(1) |
263 |
Gain on Gold Sales(2) |
|
Earnings on Investments |
93 |
Revaluation Effects |
17 |
Official Government Operations |
175 |
Other Transactions |
9 |
Net Change |
155 |
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1. During February, Canada Bills increased by $163.1 million, to a level of
outstanding bills of $5,193.9 million and Canada Notes increased by $100 million to a
level of outstanding notes of $1,640.2 million.
2. On February 28, gold holdings stood at 3.1 million ounces. |
___________________ For further information:
Charlie Seeto (613) 992-6747
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