Japan's foreign reserves hit record 996 billion dollars in January
( dpa )- Japan's foreign exchange reserves hit a record high of 996.04 billion dollars in January, thanks to increases in gold and bond prices, the Finance Ministry said Thursday. Foreign reserves grew by 22.68 billion dollars from the end of December to the end of January. Gold prices increased to 923.25 dollars per troy ounce, which helped raise the appraisal value of Japan's gold holdings, the ministry said. Japan had 844.48 billion dollars in foreign securities at the end of January. Foreign currency deposits declined to 124 billion dollars. Japan held 6.18 billion dollars of the deposits in foreign central banks and the Basel-based Bank for International Settlements, 25.93 billion dollars in Japanese banks and 91.89 billion dollars in foreign financial institutions. Gold reserves grew to 22.71 billion. Japan had 1.41 billion dollars in IMF reserve positions and 3.06 billion dollars in IMF special drawing rights. The ministry also listed 376 million dollars in other reserve assets. Japan's foreign reserves consist mainly of securities and deposits denominated in foreign currencies, International Monetary Fund reserve positions, IMF special drawing rights and gold.