Canada’s official international reserves grow to $125.782b in August

Canada’s official international reserves increased by an amount equivalent to $1.577 billion in August to $125.782 billion, according to latest data by the Department of Finance on Thursday.

The rise was driven by a net gain on investments ($1,802 million) which was slightly offset by negative reserves management funding operations ($225 million).

As of August 30, the country’s reserves of foreign currencies and other monetary assets totaled $125.782 billion, up from $124.205 billion as of July 31.

In August, Canada bills increased by $554 million to a level of outstanding bills of $2.172 million. Canada bills are short-term securities sold on the US money market.

The Canadian government’s report said there were no gold holdings at the end of August.

At the end of August, the country’s foreign-currency reserves included securities of $84.240 billion, deposits of $12.913 billion, special drawing rights (SDRs) of $23.073 billion, and a reserve position in the International Monetary Fund (IMF) of $3.840 billion, the data showed.

The currency composition of deposits and securities as of August 30 included: $68.490 billion (US dollar), $13.543 billion (euro), $9.623 billion (pound sterling), and $5.497 billion (yen).

The next release will be on October 3, 2024, to cover the period of September 2024.

Attribution: Department of Finance