Forex reserves log 1st drop in 3 months in June
July 7, 2017
Tokyo- Japan's foreign exchange reserves dropped for the first time in three months in June, the Ministry of Finance said Friday.
The country's external reserves totaled 1,249,847 million dollars at the end of June, down 2,021 million dollars from a month before, the ministry said.
The value of euro-denominated assets held by the Japanese government increased when converted into dollars thanks to the euro's rise against the US currency.
But the market value of the government's bond holdings declined due to a rise in US Treasury yields. (Jiji Press)
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