| Japan's foreign reserves reach new high |
TOKYO, Sept. 7 (Xinhua) -- Japan's foreign exchange reserves totaled 932 billion U.S. dollars at the end of August, up 8.44 billion dollars from a month earlier and hitting a new record, according to a government monthly report on Friday.
Japan had 785.60 billion dollars in foreign securities as of Aug. 31, up from 778.58 billion a month earlier, while foreign currency deposits came to 125.27 billion, up from 123.96 billion in July, the Finance Ministry said in the monthly report.
It was the third consecutive month for Japan's foreign exchange reserves to reach new high.
The ministry attributed the increase primarily to the accrued value of Japan's holdings of U.S. Treasuries spurred by a fall in interest rates.
Japan's foreign exchange reserves consist of securities and deposits denominated in foreign currencies, plus IMF reserve positions, IMF special drawing rights and gold.
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