Japan’s foreign exchange reserves fell $7.89 million in July

JIJI

Japan’s foreign exchange reserves totaled $1.28 trillion at the end of July, down $7.89 billion from a month before, the Finance Ministry said Thursday.

The balance fell for the first time in four months mainly because the value of foreign securities held by the government dropped because of a slump in U.S. Treasury bond prices, ministry officials said.

Of all reserves, foreign currency-denominated securities accounted for $1.19 trillion and deposits came to $15.79 billion, the ministry said.

Gold reserves amounted to $31.62 billion, and the International Monetary Fund’s special drawing rights totaled $19.97 billion.