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Japan's foreign reserves exceed 1 trillion dollars in July

Business Materials 7 August 2008 08:23 (UTC +04:00)

(dpa) - Japan's foreign reserves exceeded 1 trillion dollars at the end of July, the Finance Ministry said Thursday.

The nation's July foreign reserves rose 3.11 billion dollars from the previous month, thanks to rises in the appraisal value of the nation's foreign securities, the ministry said.

Japan held 865.27 billion dollars in foreign securities, up from 859.25 billion dollars a month earlier.

Foreign currency deposits totaled 111.68 billion dollars.

Japan had 6.04 billion dollars of the deposits in foreign central banks and the Basel-based Bank for International Settlements, 22.86 billion dollars in Japanese banks and 82.78 billion dollars in foreign financial institutions.

Gold reserves amounted to 22.59 billion dollars.

Japan had 1.61 billion dollars in IMF reserve positions and 3.15 billion dollars in IMF special drawing rights.

Other reserve assets came to 370 million dollars.

Japan's foreign exchange reserves consist mainly of securities and deposits denominated in foreign currencies, International Monetary Fund reserve positions and special drawing rights and gold.

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