Japan reserves post record drop after yen intervention
Japan reported its largest-ever drop in foreign reserves for August following record dollar-selling and yen-buying interventions by Tokyo. The reserves fell by nearly 80 billion dollars to sit at 1.2 trillion dollars at month end.
Xurve View
Insights:
Xurve View
Japan's foreign reserves fell by a record $79.6 billion, or 6.18%, to $1.208 trillion in August following heavy intervention to support the USD/JPY. The drop marks the largest monthly decline on record for the country's currency reserves. Tokyo spent 15.4 trillion yen ($98.66 billion) between July 30 and August 26 to defend the currency.
