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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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16 Articles
16 Articles
·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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Japan's foreign exchange reserves fell by a record $79.58 billion, or 6.18 percent, in August compared to the previous month.
Coverage Details
Total News Sources16
Leaning Left0Leaning Right2Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
C 67%
R 33%
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