Canada Monetary Reserves Rose $2.69 Billion in November From October

By Paul Vieira

OTTAWA--Canada's official international reserves increased $2.69 billion in November, the federal Finance Department reported Monday.

As of Nov. 30, the reserves of foreign currencies, gold and other monetary assets totaled $106.46 billion, up from $103.78 billion a month earlier.

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

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.

The finance department reported that the amount of Canada bills outstanding rose in November by $314 million to $2.10 billion. 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 $72.98 billion, deposits $6.31 billion, special drawing rights $22.57 billion, and reserve position in the International Monetary Fund $4.31 billion.

The $2.69 billion net increase in the reserves in November involved:

-reserves management operations, down $327 million;

-return on investments, up $1.31 billion;

-foreign-currency debt charges, down $181 million;

-revaluation effects, up $1.88 billion;

-net government operations, unchanged;

-no official intervention reported.

Currency composition of deposits and securities at Nov. 30 included: U.S. dollars $56.41 billion, Euro $9.94 billion, Pound Sterling $6.57 billion, Yen $6.36 billion.

Write to Paul Vieira at [e-mail]

(END) Dow Jones Newswires

12-05-22 0834ET