Japan's foreign reserves hit record 973 billion dollars in December
( dpa ) - Japan's foreign exchange reserves hit record 973.37 billion dollars at the end of December, the Finance Ministry said Thursday.
The record, which was renewed for the sixth month, was helped by an increase in gold prices, totalling 836.50 dollars in December per troy ounce, up from 783.50 dollars a month before.
Japan had 823.53 billion dollars in foreign securities and 124.46 billion dollars in foreign currency deposits as of December 31.
The world's second largest economy held 6.99 billion dollars in foreign central banks and the Basel-based Bank for International Settlements, 25.14 billion dollars in Japanese banks and 92.33 billion dollars in foreign financial institutions.
Gold reserves came to 20.58 billion dollars.
The country had 1.40 billion dollars in International Monetary Fund reserve positions and 3.03 billion dollars in IMF special drawing rights.
Other reserve assets came to 369 million dollars.
Japan's foreign exchange reserves consist mainly of securities and deposits denominated in foreign currencies, IMF reserve positions, IMF special drawing rights and gold.