Canada’s official international reserves saw a positive growth in July, with a $228 million increase driven by investment gains, according to the federal finance department. As of July 31, the country’s reserves of foreign currencies and other monetary assets reached $114.51 billion, surpassing the previous month’s $114.28 billion.

Notably, there were no gold holdings reported at the end of July, and no intervention was made in the foreign-currency market during the month. All figures are denominated in U.S. dollars.

The finance department also disclosed that Canada bills outstanding decreased by $65 to $3.02 billion as of the end of July. Canada bills are short-term securities sold on the U.S. money market.

On July 31, the composition of foreign-currency reserves comprised securities worth $81.39 billion, deposits totaling $5.09 billion, special drawing rights amounting to $23.13 billion, and a reserve position in the International Monetary Fund valued at $4.38 billion.

The net increase of $288 million in reserves during July can be attributed to several factors. Reserves management operations decreased by $312 million, while returns on investments increased by $163 million. Additionally, foreign-currency debt charges decreased by $100 million, revaluation effects rose by $514 million, and net government operations decreased by $37 million. It is noteworthy that no official intervention was reported during this period.

The currency composition of deposits and securities as of July 31 included $61.31 billion in U.S. dollars, $10.94 billion in euros, $8.02 billion in pound sterling, and $6.22 billion in yen.

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