Net foreign investment in Canadian securities jumped to $7.70 billion in September from a year-low $2.63 billion in August on higher purchases of money market paper, Statistics Canada said on Friday.
Despite the surge, non-resident purchases of Canadian bonds, stocks and money market paper slumped to $73.48 billion in the first nine months of the year from $144.62 billion in the same year-ago period.
Foreigners bought $6.85 billion worth of money market instruments in September, the largest such investment since October 2016, focusing largely on treasury bills and provincial government paper.
Non-residents also bought $1.18 billion in Canadian stocks, the lowest amount in four months, while selling off $339 million in bonds.
Canadian investors resumed their acquisition of foreign securities in September with purchases totalling $10.59 billion, mainly non-U.S. foreign instruments. This followed a divestment of $288 million in August.