Japan foreign reserves rise for first time in four months
2022.12.06 20:57
© Reuters. FILE PHOTO: Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. REUTERS/Florence Lo/Illustration
By Tetsushi Kajimoto
TOKYO (Reuters) – Japan’s foreign reserves rose in November for the first time in four months, the Ministry of Finance said on Wednesday, as the dollar’s fall versus the euro and other currencies helped to boost valuation gains in the country’s foreign assets.
Japan’s foreign reserves grew 2.6% to $1.226 trillion at the end of November, the highest since December 2016, ministry officials said.
Investors are scrutinising Japan’s foreign reserves and intervention records for clues on how much Japan might be able to spend to stem yen weakness, although a recent reversal of dollar strength has eased pressure on the Japanese currency.
