Japan's Foreign Reserves Drop by $79.6 Billion After Record Yen Intervention

Japan's foreign reserves plummeted by $79.6 billion in August following the government's record intervention to support the yen, according to official data released by Japan's Finance Ministry.

The country's reserve assets declined 6.2% from the previous month to $1.208 trillion as of Aug. 31. Foreign-currency reserves totaled $994.98 billion, including $839.56 billion in securities and $155.42 billion in deposits.

Japan also held $124.10 billion in gold, $61.17 billion in International Monetary Fund special drawing rights, and an $11.42 billion reserve position at the IMF.