Japan: ausländ. Währungsreserven per Ende Januar: 741.25Mrd$

verfasst von zani, 08.02.2004, 22:41

-->Guten Abend

Der grossse Verlust durch dem Dollarverfall sei mehr als aufgefangen durch die Profite aus der Bewirtschaftung der Reserven.



Foreign-exchange reserves hit record high
Figure laid to record 20.43 trillion yen spent on intervention in 2003

By HIROKO NAKATA
Staff writer

Japan's unprecedented spree of dollar-buying interventions pushed its foreign-exchange reserves to a record $741.25 billion as of the end of January.
The Finance Ministry said Friday the reserves, by far the biggest in the world, were up by $67.72 billion from a month earlier -- the steepest rise yet for a single month.

Japan's currency-market interventions in 2003 totaled 20.43 trillion yen, the largest for a single year, it said. The previous record was 7.64 trillion yen, set in 1999.

Tokyo wants a weak yen to protect its export-driven economic recovery.

Japan reportedly spent 7.15 trillion yen on yen-weakening market interventions in January alone, compared with 4.02 trillion yen for all of 2002.

Despite the massive intervention by Japanese financial authorities, the U.S. currency fell to 105.53 yen on Jan. 28 from 108.30 yen on Jan. 9.

The greenback slid by about 10 percent against the yen last year and dipped earlier this week to its lowest level in more than three years.

Japan's swelling reserves have economists worried, due to a latent loss caused by the dollar's persistent fall against the yen.

The Finance Ministry has countered such criticism, however, saying the latent loss has been more than offset by profits earned from managing the reserves.

The foreign-exchange reserves consist of securities and deposits denominated in foreign currencies, mostly in dollars, plus International Monetary Fund reserve positions, IMF special drawing rights and gold.


Intervention to go on
Finance Minister Sadakazu Tanigaki indicated Friday that Japan will tell its Group of Seven partners it will continue intervening in currency markets.
"As I have said before, it is desirable that foreign-exchange rates reflect the fundamentals of the economies involved in a stable manner," Tanigaki said before leaving for Boca Raton, Fla., where the G-7 financial leaders were to start their two-day meeting later Friday.

"We'll take firm action against moves that do not match this view," he said, indicating Japan will continue conducting yen-selling, dollar-buying intervention."We'll naturally stress this at the G-7 talks."

Officials and market watchers have said the weakening dollar and its impact on the global economy are expected to top the agenda at the G-7 meeting, Tanigaki's first.

The dollar's fall has driven the yen and euro sharply higher, with the U.S. currency currently moving around 105.50 yen, its lowest level in 40 months. Japan and European nations have voiced concern that further rises of the yen and euro would derail their export-driven recoveries.

Heizo Takenaka, state minister in charge of economic and fiscal policy, said separately he does not expect G-7 officials to discuss exchange rates of specific currencies, but to study ways to ensure sustained growth in the world economy.

Tanigaki said he wants to exchange views frankly on various economic issues with U.S. Treasury Secretary John Snow during a bilateral meeting on the sidelines of the G-7 talks.

"As G-7 meetings will be held occasionally in the future, I would like to develop personal ties with (Snow) as my counterpart," Tanigaki said.

Bank of Japan Gov. Toshihiko Fukui and Zembei Mizoguchi, vice finance minister for international affairs, will also attend the meeting.

The G-7 members are Britain, Canada, France, Germany, Italy, Japan and the United States.

The Japan Times: Feb. 7, 2004
(C) All rights reserved

<ul> ~ Foreign -exchange..</ul>

Thread gesperrt

 

gesamter Thread:

• Japan: ausländ. Währungsreserven per Ende Januar: 741.25Mrd$ - zani, 08.02.2004, 22:41
  • zum Totlachen.... - JüKü, 08.02.2004, 23:12
    • Re: Ich möchte auch mitlachen - zani, 08.02.2004, 23:20
      • Re: Ich möchte auch mitlachen / Devisenreserven der BOJ - JüKü, 09.02.2004, 11:15
        • Re: Wie bewirtschaften Ministerien Devisenreserven? - zani, 09.02.2004, 12:21
          • Re: Wie bewirtschaften Ministerien Devisenreserven? - JüKü, 09.02.2004, 13:55
            • Re: Ich glaube, das geht über entgegengesetzte Positionen zu untersch. Terminen. - Ecki1, 09.02.2004, 18:20
    • @JüKü: ich möchte die Totenruhe ja nicht stören; aber gibt es noch Antwort? - zani, 09.02.2004, 09:52
  • Japan: wie Japaner den Weg des $ sehen; Editorial (mL) - zani, 08.02.2004, 23:13