Japan's foreign exchange reserves hit a new record of USD 1.307 trillion at the end of January, up 0.8 percent from the previous month, the Finance Ministry said Tuesday. The previous record was USD 1.305 trillion posted in November.
The reserves marked the first increase in two months and remained the world's second-largest after China, according to the ministry.
The increase was also attributed to valuation gains in the government's holdings of the US Treasuries, as lower interest rates in the US drove bond prices higher, the ministry said. Other factors included a rise in gold prices. (kuna.net.kw)
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