Canada’s official international reserves experienced a significant boost in November, according to the federal finance department. The country’s reserves of foreign currencies and other monetary assets reached $115.44 billion as of November 30, up from $112.54 billion the previous month.
No Intervention or Gold Holdings
During the month of November, the Canadian government did not engage in any interventions in the foreign-currency market. Additionally, there were no gold holdings at the end of the month. All reserve figures are reported in U.S. dollars.
Canada Bills Outstanding
The amount of outstanding Canada bills increased by $525 million to $2.83 billion as of the end of November. These short-term securities are sold on the U.S. money market.
Breakdown of Foreign-Currency Reserves
As of November 30, Canadian foreign-currency reserves consisted of securities totaling $81.68 billion, deposits worth $5.84 billion, special drawing rights amounting to $23.33 billion, and a reserve position in the International Monetary Fund totaling $4.08 billion, as reported by the finance department.
Net Increase in Reserves
The $2.9 billion net increase in reserves for November can be attributed to various factors:
- Reserves management operations increased by $116 million.
- Return on investments saw a significant boost of $2 billion.
- Foreign-currency debt charges decreased by $328 million.
- Revaluation effects increased by $1.12 billion.
- Net government operations remained steady at $0.
- No official intervention was reported.
Currency Composition
Deposits and securities as of November 30 were distributed across various currencies, including:
- U.S. dollars: $62.35 billion
- Euros: $11.5 billion
- Pounds sterling: $8.61 billion
- Yen: $5.07 billion
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