Canada Monetary Reserves Decline $952 Million in October from September

Canada's official international reserves fell $952 million in October, the country's federal Finance Department reported Friday.

At Oct. 31, the reserves of foreign currencies and other monetary assets totaled $83.39 billion, down from $84.34 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 October 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 $402.9 million to $2.39 billion in October. Canada bills are short-term securities sold on the U.S. money market.

Canada's Finance Department said the foreign-currency reserves at Oct. 31 included: securities $62.24 billion, deposits $11.17 billion, special drawing rights $7.85 billion, and reserve position in the International Monetary Fund $2.12 billion.

The $952 million net drop in the reserves in October involved:

-reserves management operations down $529 million;

-return on investments up $47 million;

-foreign-currency debt charges down $106 million;

-revaluation effects down $363 million;

-net government operations down $1 million;

-no official intervention reported.

Currency composition of deposits and securities at Oct. 31 included: U.S. dollars $48.71 billion, Euro $15.76 billion, Pound Sterling $7.96 billion, Yen $985 million.

Write to Paul Vieira at

(END) Dow Jones Newswires

November 03, 2017 09:51 ET (13:51 GMT)