International reserves held in the Exchange Fund Account

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This account records the moneys advanced from the Government to the Exchange Fund Account, in Canadian and other currencies, for the purchase of foreign currencies and securities, and special drawing rights (SDRs).

The Exchange Fund Account is operated under the provisions of the Currency Act. The financial statements at March 31, 2019, are found at the end of this section.

In 2019, payments and other charges consisted of advances to the Exchange Fund Account in the amount of $31,966 million, a net valuation adjustment of $687 million and an adjustment of $1,482 million to recognize the net income of the Exchange Fund Account for the period April 1, 2018, to March 31, 2019. Receipts and other credits consisted of repayments of advances of $32,365 million.

Table 8.2
International reserves held in the Exchange Fund Account
(in millions of dollars)
  2019 2018
US dollar cash and cash equivalents 4,904 878
US dollar short-term deposits 268 –
US dollar marketable securities 59,234 61,336
Euro cash and cash equivalents 250 114
Euro marketable securities 17,646 20,620
British pound sterling cash and cash equivalents 450 140
British pound sterling marketable securities 9,775 10,433
Japanese yen cash and cash equivalents 6 143
Japanese yen marketable securities 3,678 1,216
Special drawing rights 10,989 10,550
Total 107,200 105,430
Advances by the Consolidated Revenue Fund were denominated as follows:
US dollar 68,165 64,376
Euro 17,288 19,910
British pound sterling 10,062 10,453
Japanese yen 3,640 1,322
Special drawing rights (2019, SDR 3,435 million; 2018, SDR 3,435 million) 6,372 6,433
Canadian dollar 191 1,223
Total advances from the Consolidated Revenue Fund 105,718 103,717
Total net revenue for the year 1,482 1,713
Total 107,200 105,430

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