Sunday, February 12, 2012
Canada’s reserves grew $614M US in August
September 3, 2010 | 11:23
Money
Canada’s official international reserves grew by $614 million US in August, the Department of Finance said Friday.
The balance, tallying Canada’s funds in foreign currency including gold, now sits at $57, 925 million US.
Reserve management operations and return on investments more than offset losses from foreign currency debt charges and revaluation effects, it said. The revaluation effect in the month was mainly due to the depreciation of the euro.
As of Aug. 31, Canada had $27.8 million US, $18.2 million US worth in euros and $246 million US worth in Yen. It also had $136 million US worth in gold assets.
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