English
العربية
Français
Deutsch
Español
русский
हिंदी
اردو
LoginJapan's Foreign Reserves Fall 6.18 Percent in August
Tokyo, Sept. 7 (QNA) - Japan's Ministry of Finance announced Monday that the foreign reserve assets fell by USD 79.58 billion, or 6.18 percent in August compared to the previous month, to USD 1.21 trillion, marking the largest relative decline ever.
Japan's Kyodo News Agency quoted an official in the ministry as saying that the decline is mainly due to the decline in the market value of government bonds held in the reserves in light of high interest rates, as well as a decrease resulting from interventions in the foreign exchange market that took place between July 30 and August 26.
The Japanese government and the Bank of Japan intervened in the foreign exchange market, in coordination with the United States, on July 31, as the use of part of the foreign exchange reserves in these operations was reflected in the August data.
Late in August, the Japanese Ministry of Finance announced spending a record amount of 15.4 trillion yen, equivalent to about 96 billion dollars, on interventions in the exchange market, which included selling the dollar and buying the yen, in light of the decline in the value of the Japanese currency.
Thus, the assets of the foreign reserve recorded a decline for the fourth consecutive month in August, achieving the largest decline in terms of percentage and dollar value since the start of recording comparable data in April 2000.
Securities holdings fell a record 9.5 percent to USD 839.56 billion, while the value of deposits fell 4.2 percent to USD 155.42 billion, the data showed.
In contrast, the value of Japan's gold holdings rose 13.3 percent, to USD 124.1 billion. (QNA)
chat
Hello! How can we help?
Beta
