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June foreign reserves again top $1 tril. mark on rises in euro, gold+(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, July 7_(Kyodo) _ Japan's foreign exchange reserves topped the $1 trillion mark again at the end of June after dipping below that level in May, on rises in the appraisal value of the nation's euro-denominated assets and gold holdings, the Finance Ministry said Monday. The country's foreign reserves, the second largest in the world after China, grew $4.57 billion from late May to $1,001.55 billion for the first increase in three months. The reserves stood at the fourth-highest level on record at the end of June, after hitting a record-high $1,015.59 billion in late March. The euro's advance against the U.S. dollar in the reporting month helped boost the nation's euro-denominated assets when converted into dollar terms. Japan's foreign exchange reserves consist mainly of securities and deposits denominated in foreign currencies, International Monetary Fund reserve positions, IMF special drawing rights and gold. The ministry's data show Japan had $859.25 billion in foreign securities as of June 30, up from $853.51 billion a month earlier. Foreign currency deposits came to $114.21 billion, down from $116.50 billion in May. Of the deposits, $5.97 billion were held in foreign central banks and the Basel-based Bank for International Settlements, $23.57 billion in Japanese banks and $84.67 billion in foreign financial institutions. Japan had $22.89 billion in gold as of June 30, up from $21.79 billion the previous month. The appraisal value of the nation's gold holdings rose as gold prices advanced to $930.25 per troy ounce at the end of June from $885.75 in late May. The country had $1.67 billion in IMF reserve positions, up slightly from $1.66 billion in May, and $3.18 billion in IMF special drawing rights, up from $3.15 billion the previous month. Other reserve assets came to $364 million in June, down from $368 million in May. Copyright ? 2008 Kyodo News International, Inc. |