The reduction from May’s $126.93 billion total was heavily influenced by negative revaluation effects amounting to $860 million, which outweighed gains from reserve management operations and investment returns. Despite these market-driven fluctuations, the government maintained a steady hand, reporting no official intervention activity. Canada currently holds no gold, focusing instead on a portfolio dominated by foreign-currency securities, special drawing rights, and deposits.
In section Market Quotes
Canada’s International Reserves Dip Below $127 Billion
A $495 million decline in Canada’s official international reserves during June has pulled the nation’s holdings down to $126.43 billion. The federal finance department attributed the drop primarily to a net loss on investments and revaluation effects, noting that the government refrained from any foreign-currency market intervention throughout the month.
At the end of June, the reserve composition was split across several major global currencies, with U.S. dollar holdings reaching $65.95 billion, followed by $16.03 billion in euros, $8.29 billion in pounds sterling, and $6.27 billion in yen. Parallel to these reserve adjustments, the government saw a slight contraction in its short-term debt profile, as the total of outstanding Canada bills—securities sold on the U.S. money market—dipped by $106 million to settle at $1.37 billion.
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