CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

Japan's forex reserves rise for first time in 3 months in April

05-12-2010 15:43 BJT

TOKYO, May 12 (Xinhua) -- Japan's foreign exchange reserves rose 4.16 billion U.S. dollars at the end of April from a month earlier to 1,046.87 billion U.S. dollars, the Ministry of Finance (MOF) said on Wednesday.

The MOF said the foreign exchange reserves' first rise in three months was primarily due to increases in the value of U.S. securities holdings.

The ministry added that prices of U.S. Treasury securities held by the Japanese government were sent higher by lower interest rates in the U.S. and rising gold prices also added to the expansion of the government's reserves.

Japan's foreign exchange reserves consist of securities and deposits denominated in foreign currencies, International Monetary Fund reserves, IMF special drawing rights (SDRs) and gold and are the second largest in the world after China's.

Japan's foreign exchange reserves are closely watched for evidence of how the country is managing its vast foreign currency holdings and the biggest changes usually occur when the Bank of Japan intervenes in the currency market on behalf of the MOF to prevent a steep appreciation or depreciation of the yen.

Japan has not intervened since mid-March 2004, when it ended its massive 15-month-long yen-selling operation.

The greater Japan's foreign reserves, the better position it is in to defend itself from speculative attacks on the yen.

Editor:Zhang Jingya |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program