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Japan's foreign reserves continue to increase

(Xinhua)
Updated: 2008-08-07 11:46

TOKYO  -- Japan's foreign exchange reserves posed a monthly increase of 3.11 billion US dollars in July to reach 1,004.66 billion dollars, marking the second consecutive month of topping the 1 trillion line, the Japanese Finance Ministry said on Thursday in its monthly report.

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The Finance Ministry attributed the increase of the foreign reserves to rises in the appraisal value of Japan's holdings of US Treasuries.

As of July 31, Japan had 865.27 billion dollars in foreign securities and 111.68 billion dollars in foreign currency deposits, the latest statistics in the report showed.

Japan's foreign exchange reserves consist of securities and deposits denominated in foreign currencies, plus IMF reserve positions, IMF special drawing rights and gold.