Canada’s international reserves fell by US$385 million in February, the Finance Department reported Wednesday.

The department said reserve management operations cost US$506 million and foreign currency debt charges cost US$24 million. Revaluation, which reflects changes in the market value of reserve assets from movements in exchange rates, cost US$4 million.

Return on investments netted US$149 million.

Foreign currency reserves as of Feb. 29 consisted of US$29.583 billion in securities and US$1.805 billion in deposits for a total of US$31.388 billion in liquid reserves.

The government also had US$43 million in gold, special drawing rights of US$847 million, and a reserve position in the International Monetary Fund of US$3.705 billion.