According to the report, Japan remained the largest holder of foreign reserves of any country or territory for the 33rd consecutive month.

The previous record was $453.09 billion at the end of July, which followed $446.20 billion at the end of June.

Japan’s foreign exchange reserves hit a new record for the fifth month in a row at the end of August, rising $2.98 billion from a month earlier to $456.07 billion, the Finance Ministry said Friday.

Hong Kong is the world’s fourth largest holder of foreign exchange reserves after Japan, China and Taiwan.

(EDS: ADDING DETAILS)

According to the report, Japan had $371.76 billion in foreign securities in August, up from $369.66 billion in July, and $67.23 billion in foreign currency deposits, up from $66.52 billion.

The foreign exchange reserves consist of securities and deposits denominated in foreign currencies plus International Monetary Fund (IMF) reserve positions, IMF special drawing rights (SDRs) and gold.

posted by Administrator at 11:29 am & filed under Dollars |