Japan''s forex reserves up for 4th straight month.
The foreign reserves remained the world's second-largest after China's. The increase was attributed to valuation gains in the government's holdings of euro-dominated assets in US dollar terms due to the appreciation of the euro against the dollar, the ministry said.
A rise in interest income from the government-held bonds, including US Treasury, also helped inflate Japan's reserves.
Japan's foreign exchange reserves consist of securities and deposits denominated in foreign currencies plus the International Monetary Fund (IMF) reserve positions, IMF special drawing rights and gold.
As of October 31, foreign currency reserves stood at USD 1.210 trillion, IMF reserves at USD 13.82 billion, IMF special drawing rights at USD 20.10 billion and gold at USD 32.57 billion.
Japan's reserves are closely monitored for evidence of how authorities are managing vast foreign currency holdings, as the actions have significant impact on currency exchange rates and global bond markets, particularly in the US government bond market.
The authorities did not intervene in currency markets to stem the yen's rise after spending JPY 9.09 trillion (USD 92.6 billion) in the final quarter of 2011.
Japan is the only country with foreign reserves of more than USD 1 trillion besides China, whose holdings hit a record of USD 3.66 trillion at the end of September, according to the latest comparable data. (end) mk.sd KUNA 081025 Nov 13NNNN
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|Publication:||Kuwait News Agency (KUNA)|
|Date:||Nov 8, 2013|
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