Forex reserves up for third month

JIJI

Japan’s foreign exchange reserves at the end of September were $19.242 billion higher than a month ago at $1.273 trillion after rising for the third consecutive month, the Finance Ministry said Monday.

The growth reflected rising prices of U.S. Treasury securities, a key item in Japan’s external reserves, on expectations that the U.S. Federal Reserve will delay the tapering of its bond purchases. Also, the value of euro-denominated assets rose in dollar terms as the single European currency strengthened against the U.S. unit, ministry officials said.

Of the total external reserves, foreign currency-denominated securities totaled $1.189 trillion. Deposits came to $17.309 billion.

Gold reserves amounted to $32.636 billion, and the International Monetary Fund’s special drawing rights totaled $19.882 billion.