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To: 4figureau who wrote (4293)	5/5/2003 10:18:00 AM
From: 4figureau	Respond to of 5423

Canada April foreign reserves rise, gold sold Monday May 5, 8:17 am ET OTTAWA, May 5 (Reuters) - Canadian foreign reserve holdings rose by US$337 million to US$36.26 billion in April, and the government sold off another tranche of its dwindling gold reserves, the Finance Department data said on Monday. RESERVES April March Total 36.263 35.926 U.S. dollars 16.587 16.501 Other foreign currencies 15.045 14.754 Gold 0.142 0.170 Special drawing rights 0.745 0.739 IMF reserves 3.744 3.762 NOTE - Figures in billions of U.S. dollars. Official government operations -- net purchases or sales of foreign currency for government foreign exchange requirements and for additions to or subtractions from reserves -- had no effect on reserves in April. Gold sales during the month totaled 85,703 ounces, leaving government holdings at approximately 400,000 ounces on April 30. The government has a policy of gradually selling off gold reserves and replacing them with interest-bearing instruments. Details of changes in net reserves this month: Reserves management operations -30 Gain and losses on gold sales -1 Earnings on investments +94 Foreign currency debt charges -66 Revaluation effects +340 Official intervention 0 Other transactions 0 NOTE - In millions of U.S. dollars biz.yahoo.com