The Ministry of Finance announced that foreign exchange reserves stood at approximately ¥188 trillion at the end of August. The figure was down 6.18% from the end of the previous month, marking the largest decline since April 2000. The decline reflected foreign currency reserves drawn down through coordinated intervention with the United States.
According to the Ministry of Finance, foreign exchange reserves stood at $1.2075 trillion (approximately ¥188 trillion) at the end of August, down 6.18% from the end of the previous month. The rate of decline was high compared with previous figures for the same point in the year, making it the largest since April 2000.
The ministry said the decline in foreign exchange reserves reflected the amount of foreign currency drawn down after the government and the Bank of Japan conducted coordinated foreign-exchange intervention with the United States on 31 July U.S. Eastern Time. The article does not state the specific amount of the intervention, but indicates that it was reflected in the figures.
Related news to watch going forward is expected to include economic trends and the foreign exchange market's reaction. Other media outlets have also reported the key points of the same story carried by Kyodo News.