Canada Monetary Reserves Rose by $142 Million in June

By Robb M. Stewart

OTTAWA--Canada's official international reserves rose by $142 million last month, the federal finance department said Thursday.

As of June 28, the country's reserves of foreign currencies and other monetary assets totaled $122.90 billion, an increase from $122.76 billion the month before.

The government reported no intervention in the foreign-currency market in the latest month, 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 $89 million to $2.40 billion as of the end of June. Canada bills are short-term securities sold on the U.S. money market.

At June 28, foreign-currency reserves included securities of $82.93 billion, deposits of $12.04 billion, special drawing rights of $22.46 billion, and a reserve position in the International Monetary Fund of $3.85 billion, the finance department said.

The $142 million net increase in reserves in June involved:

--reserves management operations down $30 million;

--return on investments up $798 million;

--foreign-currency debt charges down $110 million;

--revaluation effects down $516 million;

--no net government operations;

--no official intervention reported.

The currency composition of deposits and securities at end-June included: $67.66 billion U.S. dollars, $12.99 billion euro, $9.16 billion pound sterling, and $5.14 billion yen.

Write to Robb M. Stewart at [e-mail]

(END) Dow Jones Newswires

07-04-24 0829ET