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Canada Monetary Reserves Decline $545 Million in November

12/03/2021 | 08:37am EST

By Paul Vieira

OTTAWA--Canada's official international reserves declined $545 million in November, the federal finance department said Friday.

As of Nov. 30, the reserves of foreign currencies and other monetary assets totaled $103.62 billion, a slight drop from $104.17 billion a month earlier.

The government reported no official intervention in the foreign-currency market in November, and there were no gold holdings at the end of the month.

All reserve figures are reported in U.S. dollars.

The finance department reported that the amount of Canada bills outstanding fell by $742 million to $3.29 billion as of the end of November. Canada bills are short-term securities sold on the U.S. money market.

Canada's finance department said the foreign-currency reserves at Nov. 30 included securities of $72.83 billion; deposits $2.30 billion; special drawing rights $24.02 billion; and reserve position in the International Monetary Fund $4.47 billion.

The $545 million net decline in the reserves in November involved:

--reserves management operations down $163 million;

--return on investments up $348 million;

--foreign-currency debt charges down $87 million;

--revaluation effects down $643 million;

--net government operations unchanged;

--no official intervention reported.

Currency composition of deposits and securities at Nov. 30 included: U.S. dollars $52.10 billion, euro $11.43 billion, pound sterling $6.41 billion, yen $5.20 billion.

Write to Paul Vieira at paul.vieira@wsj.com

(END) Dow Jones Newswires

12-03-21 0837ET

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