Japan's Foreign Reserves Fell at End September

10/06/2022 | 06:42pm

By Megumi Fujikawa

Japan's foreign reserves declined by 4.2% to $1.238 trillion at the end of September after the country carried out its first yen-buying intervention in 24 years.

Foreign securities holdings declined to $985 billion at the end of September from $1.04 trillion at the end of August, Ministry of Finance data showed Friday.

Japan's deposits with foreign central banks and the Bank for International Settlements stood at $135.514 billion, compared with $135.535 billion at end-August.

On Sept. 22, the Japanese government intervened by buying yen and selling dollars for the first time since 1998. It spent Y2.8 trillion ($19.3 billion) for the currency intervention, according to separate data released by the MOF last week.

Write to Megumi Fujikawa at megumi.fujikawa@wsj.com

(END) Dow Jones Newswires

10-06-22 2042ET

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