Japan’s foreign reserves dip slightly to $1.041 trillion

Tokyo: Japan's foreign exchange reserves dipped slightly to $1.041 trillion at the end of May as compared to $1.047 trillion at end-April. These figures are slightly below the record high of $1.074 trillion attained end-November 2009, the ministry of finance said Monday.

The Japanese Yen

The country's forex reserves continue to remain the second largest in the world, next only to China's hoard of $2.45 trillion accumulated by the end of March this year.

At the end of May, Japan's foreign currency reserves stood at $987.64 billion, IMF reserves at $3.83 billion, SDRs at $19.73 billion, gold at $29.71 billion and other reserve assets at $417 million.

Foreign exchange reserves are maintained through securities and deposits denominated in foreign currencies, International Monetary Fund reserves, IMF special drawing rights (SDRs) and gold.