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Forex reserves up for 3rd straight month

Jiji Press TOKYO (Jiji Press) — Japan saw an increase in its foreign exchange reserves for the third straight month in January, the Finance Ministry said Wednesday.

As of the end of January, the external reserves totaled $1,268,535 million, up $4,252 million from a month before.

The dollar value of euro-denominated assets rose as the dollar weakened against the single European currency.

Interest income from foreign bond holdings also contributed to the growth in reserves.

The market value of U.S. Treasury securities held by Japan declined due to higher interest rates in the United States.

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