Japan’s foreign currency reserves fall to record low due to depreciation of US securities

Japan’s foreign currency reserves fell by more than 2% in the month to the end of March, their biggest decline since the publication of such statistics, Report informs citing TASS.

As of March 31, Japan’s foreign currency reserves stood at nearly $1.4 trillion. Their reduction is primarily due to the depreciation of US government securities, in which Tokyo holds part of its reserves.

The depreciation of the euro against the dollar also had an effect on the overall picture, the Ministry of Finance of Japan said.