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Japan foreign reserves $1.042 trillion at end-August

Japan foreign reserves $1.042 trillion at end-August
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First Published: Mon, Sep 07 2009. 09 10 AM IST
Updated: Mon, Sep 07 2009. 09 10 AM IST
Tokyo: Japan’s foreign reserves stood at $1.042 trillion at the end of August, the ministry of finance said on Monday, increasing sharply on the back of a reserve allocation by the International Monetary Fund.
The amount jumped from $1.02 trillion a month earlier, thanks to the IMF’s disbursement of $250 billion in reserves globally to inject liquidity into the global financial system hit by last year’s credit crunch.
Market players are keeping a close watch on the new ruling party’s stance on foreign reserves management as some lawmakers from the Democratic Party, which won a landslide victory in the 30 August election, have called for more active management of dollar assets in Japan’s reserves, such as taking more credit risks.
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First Published: Mon, Sep 07 2009. 09 10 AM IST