Tokyo, July 28.
Revaluation of the gold reserve of the Bank of Japan and the creation of an exchange adjustment fund account are understood to be covered by the two new bills which the Minister of Finance. Mr. O. Kaya, is introducing at the special session of the Diet.
At present revaluation will take place at the ratio of 290 milligrams of fine gold for Y. 1 against 750 milligrams formerly, which is the equivalent of Y. 12931 against Y. 5 per momme. Revaluation profit thus obtainable is estimated to approximate Y. 800,000,000.
The Department of Commerce Industry has completed a five plan for the increase of gold production in the whole of Japan, bringing the total output for 1942 to 135 tons as against 50 tons as at present, —Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.