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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