Forex reserves expand to $1.27 tril.

Jiji Press TOKYO (Jiji Press) — Japan’s foreign exchange reserves expanded $12,711 million from a month earlier to $1,270,975 million at the end of December, up for the second straight month, the Finance Ministry said Thursday.

The growth reflected a rise in the market value of foreign currency-denominated bonds held by the government amid lower interest rates.

The dollar value of euro-based assets increased, in line with the European single currency’s strengthening versus the greenback.

Of the total external reserves, foreign currency-denominated securities accounted for $1,077,824 million. Deposits came to $131,134 million, the ministry said. Gold reserves amounted to $31,531 million, and the International Monetary Fund’s special drawing rights totaled $18,484 million.Speech

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