OTTAWA — Canada’s official international reserves decreased $1.61 billion in June, the federal finance department said Wednesday.
As of June 30, the reserves of foreign currencies and other monetary assets totaled $106.28 billion, a decline from $107.89 billion a month earlier.
The government reported no official intervention in the foreign-currency market in June, 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 $966 million to $2.31 billion as of the end of June. Canada bills are short-term securities sold on the U.S. money market.
Canada’s finance department said the foreign-currency reserves at June 30 included securities of $70.97 billion; deposits of $8.05 billion; special drawing rights of $22.99 billion; and reserve position in the International Monetary Fund of $4.27 billion.
The $1.61 billion net decrease in the reserves in June involved:
–reserves management operations up $210 million;
–return on investments down $548 million;
–foreign-currency debt charges down $63 million;
–revaluation effects down $1.19 billion;
–net government operations down $18 million;
–no official intervention reported.
Currency composition of deposits and securities at June 30 included: U.S. dollars $56.69 billion, euro $9.98 billion, pound sterling $6.29 billion, and yen $6.05 billion.