It would surpass the previous record for dollar-selling, yen-buying intervention in 1998 of 2.62 trillion yen.
Japan held roughly $1.3 trillion in reserves, the second biggest after China, of which $135.5 billion was held as deposits parked with foreign central banks and the Bank for International Settlements (BIS), according to foreign reserves data released on Sept.Those deposits can easily be tapped to finance further dollar-selling, yen-buying intervention7
Other holdings include gold, reserves at the International Monetary Fund (IMF) and IMF special drawing rights (SDRs), although procuring dollar funds from these assets would take time, analysts say.Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.