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Japan's Foreign Reserves Shrink by $77 Billion in May

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Japan's foreign reserves narrowed by $77 billion in May from the previous month, according to data from the Ministry of Finance on Friday.

Official reserve assets as of the end of May fell to $1.306 trillion from $1.383 trillion at the end of April.

Of the total, foreign currency reserves stood at $1.093 trillion, comprising $931.7 billion in securities, down from $1.007 trillion the previous month, while deposits were flat at $162.2 billion.

Japan's IMF reserve position rose to $11.5 billion from $11.3 billion in April, while its holdings of special drawing rights shrank to $60.9 billion from $61 billion.

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