Japan's foreign exchange reserves decline

Feb. 7, 2005 at 2:53 AM

TOKYO, Feb. 7 (UPI) -- Japan's foreign reserves fell for the first time in nine months, the Finance Ministry reported Monday.

Foreign exchange reserves fell by $3.5 billion in the period from December to late January, to $840.9 billion. But Japan still remains the biggest holder of foreign reserves in the world.

Also Monday, the Japanese Finance Ministry reported that the government did not intervene in the currency markets in January.

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