MOF's Asakawa says Japan won't diversify reserves

According to Japanese Ministry of Finance official Masatsugu Asakawa, Japan doesn't plan to change the percentage of US dollars in its $838 billion official reserve assets, the world's largest.

``We are pursuing no currency diversification,'' said Asakawa, 48, who runs the government's US Treasury portfolio as head of the ministry's foreign-exchange department. The reserves' ``only purpose is to intervene in the forex market. We need to keep hold of our US dollars.'' He made the comments in an

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