Japan's foreign reserves reach new record high

Japan's foreign exchange reserves posed a monthly increase of 3.91 billion U.S. dollars in March to reach 908.96 billion dollars, a new record high for the second consecutive month, the Finance Ministry said on Friday in its monthly report.

It was also the second straight month for the country's foreign exchange reserves to be over the level of 900 billion dollars.

The Finance Ministry attributed the increase of the foreign reserves to interest income gains on the country's holdings of U.S. Treasuries and other foreign securities and valuation gains in euro-denominated assets in the wake of the appreciation of the euro against the U.S. dollar.

As of March 31, Japan had 762.31 billion dollars in foreign securities, 125.68 billion dollars in foreign currency deposits, and 16.28 billion dollars in gold, the latest statistics in the report showed.

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