Japan forex reserves drop to $1.24 tril. in Sept. after intervention

Economy

Japan's foreign currency reserves fell to $1.24 trillion at the end of September from $1.29 trillion a month earlier, after its first intervention in 24 years last month to arrest the yen's sharp depreciation, Finance Ministry data showed Friday. Of the total reserves, deposits, which can be tapped immediately for use in intervening in the currency market, stood at $136.11 billion. Securities dropped to $985.27 billion from $1.04 trillion. Finance Minister Shunichi Suzuki has said the yen-buying, dollar-selling intervention on Sept. 22, which likely cost a record 2.84 trillion yen ($20 billion...

Kyodo News

Kyodo News