Japan profits on yen interventions

JAPAN - The Japanese government has made a profit of about YEN 6,000bn ($49bn) on its foreign exchange reserves during the last decade, partly due to heavy bouts of intervention, a former Ministry of Finance official has said.

The ministry has often bought the yen when it was weak and sold it when it was strong and held a rising volume of dollars which earn higher interest rates than yen.

"The foreign exchange reserves, as mutual funds, have made about YEN6,000bn of foreign exchange profits and

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