By Paul Vieira
OTTAWA--Canada's official international reserves rose sharply in March, up $6.40 billion, the federal Finance Department reported Thursday.
At March 31, the reserves of foreign currencies, gold and other monetary assets totaled $125.99 billion, an increase from $119.60 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 March and there were no gold holdings at the end of the month.
The finance department reported that the amount of Canada bills outstanding increased by $1.27 billion to $2.93 billion at March 31. Canada bills are short-term securities sold on the U.S. money market.
Canada's finance department said the foreign-currency reserves at March 31 included: securities $89.83 billion, deposits $7.95 billion, special drawing rights $22.67 billion, and reserve position in the International Monetary Fund $3.66 billion.
The $6.40 billion net increase in the reserves in March involved:
-reserves management operations up $5.30 billion;
-return on investments up $147 million;
-foreign-currency debt charges down $283 million;
-revaluation effects up $1.23 billion;
-no net government operations;
-no official intervention reported.
Currency composition of deposits and securities at March 31 included: U.S. dollars $69.81 billion, Euro $13.58 billion, Pound Sterling $9.83 billion, Yen $4.56 billion.
Write to Paul Vieira at paul.vieira@wsj.com
(END) Dow Jones Newswires
April 03, 2025 08:30 ET (12:30 GMT)
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