Official International Reserves - January 6, 2025

All 2025 Official International Reserves -

The Department of Finance Canada announced today that Canada's official international reserves decreased by an amount equivalent to US$988 million in December to US$121,622 million. This was driven by a net loss on investments (US$1,540 million)Footnote 1 which was slightly offset by positive reserves management funding operations (US$552 million)Footnote 2.

Details on the level and composition of Canada's reserves as of December 31, 2024, as well as the major factors underlying the change in reserves, are provided below. All figures are in millions of US dollars unless otherwise noted.

Table 1
Foreign currency reserves
Millions of US dollars
  Amount
Securities 81,141
Deposits (more details in Table 2) 12,738
Total securities and deposits (liquid reserves): 93,879
Gold 0
Special drawing rights (SDRs) 22,224
Reserve position in the International Monetary Fund (IMF) 3,676
Other reserve assetsFootnote 3 1,843
Total:
December 31, 2024
121,622
November 29, 2024
122,610
Net change (more details in Table 3): -988
Table 2
Details on deposits
Millions of US dollars
  Amount
Other central banks/Bank for International Settlements 12,738
Banks headquartered in Canada 0
Of which: located abroad
0
Banks headquartered abroad 0
Of which: located in Canada
0
Total: 12,738
Table 3
Details of net change
Millions of US dollars
  Amount
Reserves management operations 552
Gains and losses on gold sales 0
Net investment gains and losses of which: -1,540
Return on investmentsFootnote 4
-511
Foreign currency debt charges
-158
Revaluation effectsFootnote 5
-871
Net government operationsFootnote 6 0
Official intervention 0
Other transactions 0
Net change: -988
Table 4
Currency composition of deposits and securities
Millions of US dollars
  Amount
US dollar 67,700
Euro 12,398
Pound sterling 9,080
Yen 4,701
Total: 93,879
Table 5
Predetermined short-term drains on foreign currency reserves (nominal value)
Millions of US dollars
  0 to 1 month 1 to 3 months 3 to 12 months Total
Foreign currency securities:Footnote 7
Principal
-5,423 -931 -9,471 -15,825
Interest
-168 -415 -1,733 -2,316
Aggregate short forward positions in foreign currencies vis-à-vis Canadian dollar 0 0 0 0
Aggregate long forward positions in foreign currencies vis-à-vis Canadian dollar 0 0 0 0
Total net drains: -5,592 -1,346 -11,203 -18,141

Note: Numbers may not add due to rounding.

Table 6
Additional information (nominal value)
Millions of US dollars
  Amount
Undrawn, unconditional credit lines with banks headquartered outside Canada 0
Pledged assetsFootnote 8 0
Securities lent under repurchase agreementsFootnote 9 0
Securities held under repurchase agreementsFootnote 10 7,369
Financial derivatives assets (net, marked to market):  
Forwards
155
Swaps
-1,866
Table 7
Official international reserves (10-year synopsis)
Millions of US dollars
Date US dollars Other currencies Gold SDRs IMF position Other reserve assets Total
December 31, 2024 67,700 26,179 0 22,224 3,676 1,843 121,622
November 29, 2024 67,155 27,350 0 22,828 3,603 1,674 122,610
October 31, 2024 67,309 27,354 0 23,072 3,652 1,697 123,084
September 27, 2024 70,156 28,932 0 23,476 3,783 1,727 128,074
August 30, 2024 68,490 28,663 0 23,073 3,840 1,716 125,782
July 31, 2024 67,960 27,969 0 22,695 3,888 1,693 124,205
June 28, 2024 67,664 27,299 0 22,457 3,849 1,631 122,900
May 31, 2024 67,857 27,314 0 22,352 3,594 1,641 122,758
April 30, 2024 67,139 26,488 0 22,192 3,579 1,634 121,032
March 28, 2024 63,160 26,715 0 23,468 3,892 715 117,950
February 29, 2024 62,532 25,756 0 23,209 4,037 717 116,251
January 31, 2024 62,728 25,577 0 23,182 4,091 718 116,296
December 29, 2023 63,640 26,274 0 23,422 4,215 725 118,276
 
December 31, 2024 67,700 26,179 0 22,224 3,676 1,843 121,622
December 29, 2023 63,640 26,274 0 23,422 4,215 725 118,276
December 30, 2022 56,652 23,077 0 22,875 4,348 303 107,255
December 31, 2021 55,378 22,771 0 23,997 4,469 0 106,615
December 31, 2020 49,236 27,584 0 8,886 4,722 0 90,428
December 31, 2019 48,646 24,967 0 8,527 3,157 0 85,297
December 31, 2018 49,090 24,189 0 7,941 2,706 0 83,926
December 29, 2017 51,343 25,308 0 7,975 1,999 0 86,625
December 30, 2016 52,496 20,453 0 7,578 2,191 0 82,718
December 31, 2015 48,229 20,848 58 7,899 2,719 0 79,753
December 31, 2014 43,756 19,000 116 8,164 3,664 0 74,700
December 31, 2013 39,514 18,916 115 8,675 4,717 0 71,937

Future release dates

The next release is February 5, 2025 (covering the period of January 2025).

For further information on the Exchange Fund Account, please consult the Report on the Management of Canada's Official International Reserves—April 1, 2023 – March 31, 2024.

Contacts

For further information, media may contact:

Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000

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