By Robb M. Stewart
OTTAWA–Canada’s official international reserves rose by $2.9 billion in November, the federal finance department said Tuesday.
As of Nov. 30, the country’s reserves of foreign currencies and other monetary assets totaled $115.44 billion, an increase from $112.54 billion the month before.
The government reported no intervention in the foreign-currency market in November, and there were no gold holdings at the end of the month.
All reserve figures are reported in U.S. dollars.
The finance department said that the amount of Canada bills outstanding rose by $525 million to $2.83 billion as of the end of November. Canada bills are short-term securities sold on the U.S. money market.
At Nov. 30, foreign-currency reserves included securities of $81.68 billion, deposits of $5.84 billion, special drawing rights of $23.33 billion, and a reserve position in the International Monetary Fund of $4.08 billion, the finance department said.
The $2.9 billion net increase in reserves in November involved:
–reserves management operations up $116 million;
–return on investments up $2 billion;
–foreign-currency debt charges down $328 million;
–revaluation effects up $1.12 billion;
–net government operations $0;
–no official intervention reported.
The currency composition of deposits and securities at Nov. 30 included: $62.35 billion U.S. dollars, $11.5 billion euros, $8.61 billion pounds sterling, and $5.07 billion yen.
Write to Robb M. Stewart at [email protected]
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