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Forex reserves drop $5,385 mil. in Oct.

Jiji Press TOKYO (Jiji Press) — Japan’s foreign exchange reserves at the end of October dropped by $5,385 million from a month before to $1,260,925 million, down for the second consecutive month, the Finance Ministry said Wednesday.

The decrease came as the market value of U.S. Treasury securities held by the government dropped amid rising interest rates.

In addition, the dollar value of euro-denominated assets went down reflecting a drop in the single European currency against the U.S. unit.

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