Canada Monetary Reserves Down $963 Million in June From May
Canada's official international reserves decreased $963 million in June, the federal Finance Department reported Thursday.
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.
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.
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(END) Dow Jones Newswires
July 06, 2017 10:18 ET (14:18 GMT)