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Home >> Business
UPDATED: 17:06, May 10, 2006
Japan's foreign reserves set new record
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Japan's foreign exchange reserves totaled 860.24 billion U.S. dollars at the end of April, up 8.21 billion dollars from a month earlier and hitting new record high, Kyodo News reported on Wednesday.

Japan had 717.46 billion dollars in foreign securities as of April 30, up from 710.21 billion dollars a month earlier, while foreign currency deposits came to 121.77 billion dollars, down from 122.44 billion dollars, the Finance Ministry said in a report.

It was the second straight month for Japan's foreign exchange reserves to reach new high.

The ministry attributed the increase primarily to the accrued value of Japan's euro-denominated assets given the rise of the single European currency against the U.S. dollar.

Japan's foreign exchange reserves consist of securities and deposits denominated in foreign currencies, plus IMF reserve positions, IMF special drawing rights and gold.

Source: Xinhua

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