Canada Monetary Reserves Down $963 Million in June From May

By Paul Vieira Features Dow Jones Newswires

Canada's official international reserves decreased $963 million in June, the federal Finance Department reported Thursday.

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At June 30, the reserves of foreign currencies, gold and other monetary assets totaled $85.59 billion, down from $84.63 billion a month earlier.

All reserve figures are reported in U.S. funds.

The government reported no official intervention in the foreign-currency market in June and there were no gold holdings at the end of the month.

The finance department reported that the amount of Canada bills outstanding fell by $93.1 million to $2.85 billion in June. Canada bills are short-term securities sold on the U.S. money market.

Canada's finance department said the foreign-currency reserves at June 30 included: securities $65.33 billion, deposits $9.30 billion, special drawing rights $7.79 billion, and reserve position in the International Monetary Fund $2.20 billion.

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The $963 million net decline in the reserves in June involved:

-reserves management operations down $921 million;

-return on investments down $283 million;

-foreign-currency debt charges down $91 million;

-revaluation effects up $382 million;

-net government operations down $50 million;

-no official intervention reported.

Currency composition of deposits and securities at June 30 included: U.S. dollars $49.64 billion, Euro $16.14 billion, Pound Sterling $7.86 billion, Yen $991 million.

Write to Paul Vieira at paul.vieira@wsj.com

(END) Dow Jones Newswires

July 06, 2017 10:18 ET (14:18 GMT)