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Japan's forex reserves rise for 1st time in two months in June

07-07-2010 14:46 BJT Special Report:

TOKYO, July 7 (Xinhua) -- Japan's foreign exchange reserves rose to 1,050.24 billion U.S. dollars at the end of June, the Ministry of Finance said on Wednesday.

The increase of 8.92 billion U.S. dollars from a month earlier marks the first rise in two months, the ministry said, citing the increased value of Japan's holdings of U.S. Treasury and other bonds, being triggered by lowering U.S. interest rates, which parried the weakening euro against the U.S. dollar that threatened to severely dent Japan's euro-denominated assets.

The ministry also noted however that the end-of-June figures were well below the record high of 1.074 trillion U.S. dollars logged at end-November 2009.

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

Editor:Du Xiaodan |Source: Xinhua

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