By Judy McKinnon

Canada's official international reserves fell $408 million in July, the federal Finance Department reported.

At July 31, the reserves of foreign currencies, gold and other monetary assets totaled $75.466 billion, down from $75.874 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 July. There were no sales of gold settled in July, leaving month-end gold holdings at 95,895 ounces.

The finance department reported that the amount of Canada bills outstanding decreased by $335.3 million to $1.737 billion at July 31. Canada bills are short-term securities sold on the U.S. money market.

Canada's finance department said the foreign-currency reserves at July 31 included: securities $61.648 billion, deposits $502 million, gold $123 million, special drawing rights $8.628 billion, reserve position in the International Monetary Fund $4.565 billion.

The $408 million net decrease in the reserves in July involved:

-reserves management operations up $267 million;

-return on investments down $25 million;

-foreign-currency debt charges down $102 million;

-revaluation effects down $548 million;

-net government operations unchanged;

-no official intervention reported.

Currency composition of deposits and securities at July 31 included: U.S. dollars $43.148 billion, Euro $17.818 billion, Pound Sterling $438 million and Yen $746 million.

Write to Judy McKinnon at

(END) Dow Jones Newswires

August 06, 2014 08:34 ET (12:34 GMT)

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