In order to secure its currency, which was rapidly falling and losing value, and protect its economy, Japan dumped US dollars at a record in September, according to Routers.
According to the report by Japan’s official data, Japan’s foreign reserves fell by a record 54 billion dollars in September.
Japan’s foreign reserves stood at 1.238 trillion dollars at the end of September, the lowest since March 2017.
Japan has the second largest foreign reserves in the world after China, which stood at 1.23805 million dollars.
Japan’s yen is at its lowest in two decades due to low-interest rates and other government policies.
Japan is not the only country dumping US dollars in order to protect its economy, China, India and many other countries around the world have started dumping US dollars in order to protect their currencies and economies from ever raising US interest rates and dollar printing.