Japan Foreign Reserves at 44-Month High

Japan’s foreign reserves fell by $35.97 billion to $1.37 trillion in March 2026, marking the lowest level since December 2025. The reserves consisted of $1.16 trillion in foreign currency assets, $11.14 billion in the IMF reserve position, $60.45 billion in SDRs, $125.34 billion in gold, and $15.99 billion in other reserve assets. This decline comes amid increased volatility, with officials monitoring the yen's weakness and signaling readiness to intervene if necessary. The decline highlights ongoing pressure on Japan's monetary authorities, though they may wait until the Bank of Japan's next policy meeting on April 28.

Japan’s foreign reserves climbed $15.95 billion to $1.41 trillion in February 2026, marking the highest level since December 2021. The reserves consisted of $1.18 trillion in foreign currency assets, $11.3 billion in the IMF reserve position, $61.25 billion in SDRs, $142 billion in gold, and $16.21 billion in other reserve assets. The Finance Ministry also confirmed that no foreign exchange interventions took place between October and December 2025.

Japan’s foreign reserves rose by $24.98 billion to $1.39 trillion in January 2026, reaching the highest level since January 2022. The reserves comprised $1.17 trillion in foreign currency assets, $11.36 billion in the IMF reserve position, $61.42 billion in SDRs, $135.5 billion in gold, and $16.36 billion in other reserve assets. The Finance Ministry also confirmed that no foreign exchange interventions occurred between October and December 2025.