Japan’s foreign reserves hit a new record for the second straight month at the end of January, rising by $8.87 billion to reach $478.59 billion, the Finance Ministry said Friday.

The increase was mainly due to yen-selling intervention against the dollar carried out several times in January and totaling $6 billion. Also affected was a rise in the euro against the dollar, which pushed up the value of Japan’s euro-denominated assets in dollar terms, a ministry official said.

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