Canada Monetary Reserves Increase $322 Million in July from June

By Paul Vieira Features Dow Jones Newswires

Canada's official international reserves increased $322 million in July, the federal Finance Department reported Thursday.

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At July 31, the reserves of foreign currencies, gold and other monetary assets totaled $84.95 billion, up 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 July, and there were no gold holdings at the end of the month.

The finance department reported that the amount of Canada bills outstanding decreased by $174.4 million to $2.67 billion in July. Canada bills are short-term securities sold on the U.S. money market.

Canada's finance department said the foreign-currency reserves at July 31 included: securities $65.10 billion, deposits $9.76 billion, special drawing rights $7.87 billion, and reserve position in the International Monetary Fund $2.21 billion.

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The $322 million net increase in the reserves in July involved:

-reserves management operations down $552 million;

-return on investments up $175 million;

-foreign-currency debt charges down $88 million;

-revaluation effects up $802 million;

-net government operations down $15 million;

-no official intervention reported.

Currency composition of deposits and securities at July 31 included: U.S. dollars $49.51 billion, Euro $16.36 billion, Pound Sterling $7.99 billion, Yen $1.01 billion.

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

(END) Dow Jones Newswires

August 03, 2017 08:33 ET (12:33 GMT)