Canada's Official International Reserves Increase in October

Canada's official international reserves experienced a $91 million increase in October, according to the federal finance department. These reserves, which include foreign currencies and other monetary assets, reached a total of $112.54 billion on October 31. This represents a slight rise from the previous month's total of $112.45 billion.

October Reserve Details

During the month of October, the government did not intervene in the foreign-currency market, and there were no gold holdings reported. All reserve figures are reported in U.S. dollars.

The finance department also disclosed that outstanding Canada bills increased by $424 million, reaching $2.30 billion by the end of October. Canada bills are short-term securities sold on the U.S. money market.

Breakdown of Foreign-Currency Reserves

As of October 31, foreign-currency reserves consisted of various components:

• Securities: $80.47 billion
• Deposits: $4.61 billion
• Special drawing rights: $22.92 billion
• Reserve position in the International Monetary Fund: $4.04 billion

Additionally, there were $507 million in "other assets," which included the distribution of special drawing rights allocated to Canada by the IMF as part of a special borrowing agreement.

Net Rise in Reserves

The net increase of $91 million in October's reserves can be broken down as follows:

• Reserves management operations: up $644 million
• Return on investments: down $173 million
• Foreign-currency debt charges: down $275 million
• Revaluation effects: down $105 million
• Net government operations: unchanged
• No official intervention reported

Currency Composition

The currency composition of deposits and securities as of October 31 consisted of:

• U.S. dollars: $60.38 billion
• Euro: $10.96 billion
• Pound sterling: $8.16 billion
• Yen: $5.56 billion

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