Japan foreign reserves fall 77 billion dollars in May
Japan's foreign reserves fell to $1.306 trillion in May after interventions to support the yen. The $77 billion decline follows record currency spending.
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Japan saw its foreign reserves fall $77 billion to $1.306 trillion in May following record currency market interventions. This decline from $1.383 trillion follows the Ministry of Finance spending 11.7 trillion yen ($73.13 billion) since late April to support the yen. The drop signals the scale of the liquidity Japan is willing to deploy from its $1.3 trillion war chest to stabilize the currency.
