October 12, 2021
  • October 12, 2021

Canada’s currency reserves decline by $ 269 million in September

By on October 5, 2021 0

By Paul Vieira

OTTAWA – Canada’s official international reserves declined by $ 269 million in September, the federal Department of Finance said on Tuesday.

As of September 29, foreign exchange reserves and other monetary assets stood at $ 106.27 billion, down from $ 106.54 billion a month earlier.

The government did not report any official intervention in the foreign exchange market in July, and there were no gold holdings at the end of the month.

All reserve figures are shown in US dollars.

The finance ministry said the amount of unpaid Canada bills increased by $ 735 million to $ 5.25 billion at the end of August. Canada bills are short-term securities sold in the US money market.

Canada’s Department of Finance said foreign currency reserves as of September 29 included securities of $ 71.67 billion; deposits $ 6.26 billion; special drawing rights $ 23.91 billion; and reserve position at the International Monetary Fund of $ 4.43 billion.

The net increase of $ 269 million in reserves in September involved:

– reserve management operations up by $ 1.07 billion;

– Return on investment down $ 609 million;

– foreign currency debt charges down $ 56 million;

– downward revaluation effects of $ 671 million;

–net government operations unchanged;

– no official intervention reported.

The currency composition of deposits and securities as of September 29 included: US $ 53.26 billion, € 13.14 billion, £ 6.48 billion, yen 5.06 billion.


Write to Paul Vieira at [email protected]