5 July 2002, 11:24 Sharp Rise In Japan Reserves Reflects Intervention
Japan's foreign exchange reserves rose to a record high of $446.198 billion at
the end of June, up by $26.546 billion on the end-May figure, the
Ministry of Finance said Friday. The rise in the reserves had been
expected by economists and reflecting the repeated intervention in the
forex markets by Japanese authorities to stem the yen's rise against
the dollar. Japan's total foreign reserves have jumped by 10% since the
end of April, when they stood at $406.7 billion. //MarketNews
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