Mission impossible
Unrealised losses acquired through currency intervention in Japan are expected to rise by about ¥2 trillion this fiscal year, reports suggested last week. The increased losses in the Ministry of Finance’s (MOF) special account that holds foreign currency assets would then total ¥7.79 trillion.
This followed the MOF’s revision of its projected average rate for US dollar/yen for the current fiscal year from ¥121 to ¥115. When asked about this, Finance Minister Sadakazu Tanigaki noted that the
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