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Japan’s August Foreign Reserves Post Largest-Ever Drop After Record Intervention
Foreign securities fell $87.8 billion as Tokyo financed a record yen-buying intervention that lifted the currency from 40-year lows, officials said.
- On Monday, Japan reported a record $79.6 billion drop in foreign reserves for August, bringing the total to $1.208 trillion after Tokyo intervened to support the weakening yen.
- Between July 30 and August 26, authorities spent a record 15.4 trillion yen on intervention, financing the operation by selling foreign securities including United States Treasuries.
- The Ministry of Finance reported a $87.8 billion fall in foreign securities holdings at the end of August, a decline nearly matching the scale of the recent currency intervention.
- Finance Minister Satsuki Katayama suggested Japan could tap the International Monetary Authorities Repo Facility for up to $60 billion daily, limiting the need to sell additional Treasuries.
- Treasury Secretary Scott Bessent recently announced doubled buybacks of longer-dated debt through November 4, as United States officials prioritize Treasury-market stability amid ongoing currency volatility.
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32 Articles
Observador+2 Reposted by 2 other sources
The fall, the fourth consecutive month, was mainly due to the exchange rate intervention through the purchase of yen and the sale of dollars made at the end of July. This is the biggest fall since April 2000.
·Lisboa, Portugal
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·London, United Kingdom
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Japan foreign reserve assets fall by record 6% after interventions
Japan's foreign reserve assets in August fell $79.58 billion, or 6.18 percent, from the previous month to $1.21 trillion, marking the largest percentage decline on record, the Finance Ministry said Monday.
·Tokyo, Japan
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Coverage Details
Total News Sources32
Leaning Left1Leaning Right5Center4Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
C 40%
R 50%
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