OTTAWA – Canada’s international reserves saw an increase in November, with a rise of $2.9 billion, bringing the total to $115.44 billion. This growth was achieved without any interventions or gold transactions, while holdings of Canada bills climbed to $2.83 billion.
The composition of the reserves was heavily weighted towards securities, which were valued at $81.68 billion. Other components included deposits amounting to $5.84 billion, special drawing rights totaling $23.33 billion, and a substantial International Monetary Fund (IMF) reserve position of $4.08 billion.
The increase in reserves was partly due to successful reserve management operations, which contributed an additional $116 million. Investment returns also played a significant role, generating an impressive $2 billion. Meanwhile, foreign-currency debt charges saw a decrease of $328 million, and revaluation effects added over a billion dollars to the gains.
The currency composition within the reserves demonstrated a strong preference for U.S dollars, which accounted for more than sixty-two billion dollars. The euro, pounds sterling, and yen also featured prominently in the diverse portfolio.
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Source: Investing.com
