Canada Monetary Reserves Fell $764 Million in September from August
By Paul Vieira
OTTAWA--Canada's official international reserves declined $764 million in September, the country's federal Finance Department reported Wednesday.
At Sept. 29, the reserves of foreign currencies and other monetary assets totaled $84.34 billion, down from $85.10 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 September and there were no gold holdings at the end of the month.
The Finance Department reported that the amount of Canada bills outstanding decreased by $97.2 million to $2.80 billion in September. Canada bills are short-term securities sold on the U.S. money market.
Canada's Finance Department said the foreign-currency reserves at Sept. 29 included: securities $64.40 billion, deposits $9.86 billion, special drawing rights $7.90 billion, and reserve position in the International Monetary Fund $2.18 billion.
The $764 million net drop in the reserves in September involved:
-reserves management operations down $363 million;