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Canada's official international reserves fell $2.12B in September to $125.29B
Canada's official international reserves fell $2.12 billion in September to $125.29 billion, driven by investment losses and revaluation effects, the finance department said.
Why it matters
Canada's official international reserves decreased by $2.12 billion in September, the federal finance department said Monday, bringing total reserves to $125.29 billion as of September 29 (all figures in U.S. dollars). Reserves had risen $368 million in August to $127.41 billion.
What drove the decline
The net decrease reflected a $1.13 billion loss on investments, $713 million in negative revaluation effects, $224 million in foreign-currency debt charges and $56 million from reserves management operations. The government reported no intervention in the foreign-currency market and no gold holdings at month-end.
Reserve composition
At September 29, foreign-currency reserves comprised securities of $85.72 billion, deposits of $9.5 billion, special drawing rights of $23.74 billion and a reserve position in the IMF of $4.11 billion. By currency: $63.41 billion in U.S. dollars, $16.43 billion in euros, $8.47 billion in pounds sterling and $6.91 billion in yen. Canada bills outstanding rose $98 million to $1.62 billion.
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