Tokyo, July 21.
Moving to forestall a possible fluctuation in the rate of the yen, the Japanese Government last night made public a scheme for the provisional revaluation of the gold reserves of the Bank of Japan.
Legislative approval will be sought at the special session of the Diet opening on July 25.
The present gold reserves, totalling 500,000,000 at the rate of Y133 per gram, will be revalued at Y1,312,- 000,000 at the rate of Y3.50 per gram. The revised rate is the equivalent of the present market quotation for gold less a 10 per cent. margin allowed for possible fluctuations.
This revaluation will net the Government a profit of approximately Y800.000,000. Half of the gold thus acquired will be earmarked for ex-
Text read from the printed page and cleaned; old type leaves the occasional error.