ECONOMIC

End of year ormonth1946 ..194719481949..195019511952. .19531954.19551956195719581959196019611962 . . .196319641965196619671968196919701971197219731972: JanFebMarApr •MayJuneJulyAugSeptOctNov.. .Dec .1973: JanFebMarAprMayJune. ..JulyAugSeptOctNovDecTotal reserveassetsTABLE C-93.— U.S. reserve assets, 1946-7320,70624, 02125,75826, 02424, 26524, 29924,71423, 45822,97822,79723,66624, 83222, 54021, 50419, 35918, 75317, 22016, 84316 67215, 45014, 88214, 83015,7107 16,96414, 487812,167913,151io 14, 37812,87912, 33012, 27012,285913, 34513, 33913, 09013,12413,21713,31313,30713,15113 05412,92612,93112,90412 91612,91412,91812,92312,927io 14, 36714, 37314, 378Total 2[Millions of dollars)Gold stock i20,70622, 86824, 39924, 56322, 82022, 87323, 25222, 09121, 79321.75322, 05822, 85720, 58219, 50717, 80416 94716 05715, 59615 471e 13 80613, 23512 06510 89211, 85911,07210, 206910 487ioil,65210, 2069,6629 6629,662910, 49010,49010,49010, 48810 48710, 48710,48710,48710 48710,48710,48710,48710 48710,48710,48710,48710,487io 11,65211,65211,652Treasury20, 52922, 75424, 24424, 42722, 70622,69523,18722,03021,71321, 69021,94922, 78120, 53419, 45617,76716 88915 97815, 51315 3886 13 73313,15911 98210 36710, 36710, 73210,1329 10,410ioil,56710,1329,5889 5889,5889 10, 41010, 41010,41010,41010,41010,41010,41010,41010,41010,41010,41010,41010,41010, 41010,41010,41010,410io 11,56711,56711,567Specialdrawingrights s8511,1009 1 95810 2,1661,8101,8101 8101,80391, 9581,9581,9581,9581 9581,9581,9581,9581 9581,9581,9581,9491,9491,9491,9491,9491,949io 2,1662,1662,166Convertibleforeigncurrencies «Reserveposition inInternationalMonetary Fund«1,1531,3591,4611,4451,4261 4621,3671,1851,0441,6081,9751,9581,9971,5551 6901 0641,035769«8633264201,2902,3246291,9358 2765852419 465810 5522765872765822125864293914699 428457434203234323414403241140888168888888116992124327811,3212 3453,5287 2,78143944444945445946546947347846046447047447948310 5415475521 Includes gold sold to the United States by the International Monetary Fund (IMF) with the right of repurchase andgold deposited by the IMF to mitigate the impact on the U.S. gold stock of purchases by foreign countries for gold subscriptionson increased IMF quotas.2 Includes gold in Exchange Stabilization Fund.3 Includes initial allocation on January 1, 1970 of $867 million, second allocation on January 1, 1971 of $717 million,and third allocation on January 1, 1972 of $710 million of special drawing rights (SDR) in the Special Drawing Accountin the IMF, plus or minus transactions in SDR.* Includes holdings of Treasury and Federal Reserve System.* The United States has the right to purchase foreign currencies equivalent to its reserve position in the Fund automaticallyif needed. Under appropriate conditions the United States could purchase additional amounts equal to theUnited States quota.8 Reserve position includes, and gold stock excludes, $259 million gold subscription to the Fund in June 1965 for a U.S.quota increase which became effective on February 23,1966. In figures published by the Fund from June 1965 throughJanuary 1966, this gold subscription was included in the U.S. gold stock and excluded from the reserve position.i Includes gain of $67 million resulting from revaluation of German mark in October 1969, of which $13 million representsgain on mark holdings at time of revaluation.8 Includes $28 million increase in dollar value of foreign currencies revalued to reflect market exchange rates as ofDecember 31,1971.9 Includes $1,016 million increase in total reserve assets resulting from the change in par value of the U.S. dollar onMay 8,1972, consisting of $828 million total gold stock, $822 million Treasury gold stock, $155 million SDR, and $33 millionreserve position in the IMF.10 Includes $1,436 million increase in total reserve assets resulting from the change in par value of the dollar on October18, 1973, consisting of $1,165 million total gold stock, $1,157 million Treasury gold stock, $217 million SDR, and $54million reserve position in IMF.Note.—Gold held under earmark at Federal Reserve Banks for foreign and international accounts is not included inthe gold stock of the United States.Sources: Department of the Treasury and Board of Governors of the Federal Reserve System.356