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Ottawa, May 5, 1997 1997-043
Official International Reserves
The Department of Finance announced today that Canada's official international reserves decreased by an amount equivalent to U.S. $1,782 million during April to $19,856 million; official government operations decreased reserves by $881 million. Details on the level and composition of Canada's reserves as of April 30, 1997, 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 |
16,980 |
Other Foreign Currencies |
503 |
Gold |
148 |
Special Drawing Rights |
1,117 |
Reserve Position in IMF |
1,108 |
Total: |
April 30, 1997 |
19,856 |
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March 31, 1997 |
21,638 |
Change |
-1,782 |
Details of Change |
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Foreign Currency Debt(1) |
-916 |
Gain on Gold Sales(2) |
- |
Earnings on Investments |
+55 |
Revaluation Effects |
-38 |
Official Government Operations |
-881 |
Other Transactions |
-2 |
Net Change |
-1,782 |
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1) During April, Canada Bills decreased by $696.3 million, to a level
of outstanding bills of $5,397.0 million and Canada Notes decreased by
$220 million to a level of outstanding notes of $1,312.2 million.
2) On April 30, gold holdings stood at 3.1 million ounces. |
___________________ For further information:
Charlie Seeto (613) 992-6747
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