Japan’s reserve assets increased to $1.26 trillion at the end of March 2023, up by $31.02 billion from the end of February. The composition of Japan’s international reserves includes foreign currency reserves, IMF reserve position, Special Drawing Rights (SDRs), gold, and other reserve assets.
The foreign currency reserves, totaling $1.13 trillion, consist of securities and deposits with foreign central banks and banks headquartered in Japan. The IMF reserve position is $10.81 billion, and SDRs amount to $58.40 billion. Gold holdings stand at $53.85 billion, and other reserve assets amount to $5.26 billion, including financial derivatives and other assets.
Additionally, Japan holds other foreign currency assets of $45.72 billion, which include loans to The Japan Bank for International Cooperation (JBIC).
The report also provides information on predetermined short-term net drains on foreign currency assets, contingent short-term net drains on foreign currency assets, and memo items such as short-term domestic currency debt indexed to the exchange rate, pledged assets, securities lent and on repo, and financial derivative assets.
The currency composition of reserves includes currencies in the SDR basket and currencies not in the SDR basket, with the former accounting for a significant portion of Japan’s reserves at $1.25 trillion.