The Japanese foreign exchange reserves fall to $ 1.28 trillion in March

Foreign exchange reserves fell to Japan in late March to 1.28 billion for the second consecutive month, Nippon said the Ministry of Finance.

Reserves declined by 1.1 percent from late February, when it registered 1.30 billion, due mainly to falling prices of foreign bonds held by the State Nippon.

Japanese foreign exchange reserves, the second largest in the world after China, also fell in March by the increase in funding from the Japan Bank for International Cooperation (JBIC), a state entity related projects foreign investment.

Furthermore, with increasing bond yields in the U.S. and Europe, its market value has decreased which has determined the amount of foreign exchange reserves, Kyodo added.

The Finance Ministry also said Nippon Japan did not intervene in the foreign exchange market between February and March in order to weaken the yen’s continued strength, as opposed to sales registered between October 28 and November 28 of about 9 , 1 trillion yen (over 84,500 million euros).

In recent months, the level of Japan’s foreign exchange operations increased primarily by selling local currency to depreciate the yen, which chained several highs against the euro and the dollar, but is now more stable, in the middle band the 107 yen to the euro and 82 yen to the dollar.

The strong yen hurts exporters Nippon, one of the main pillars of the third world economy, reducing their competitiveness and profits abroad when repatriated goods produced outside the country.

Reservations are composed mainly of Japanese securities, foreign currency deposits, gold and reserve positions, and rights in the International Monetary Fund (IMF).