Japan Spent Record $96 Bn in Yen Interventions: Ministry
The finance ministry said the intervention was the largest monthly one on record and came after the yen hit a four-decade low.
- Japan spent a record 15.4 trillion yen between late July and late August to support the yen, the Finance Ministry said Friday, exceeding earlier market estimates of 11 trillion to 12 trillion yen.
- Authorities intervened after the yen hit 163.99 per dollar, its weakest level since 1986, amid pressures from high oil prices and concerns over Prime Minister Sanae Takaichi's aggressive spending plans.
- Tokyo and Washington carried out a joint intervention on July 31, their first in 28 years, with President Donald Trump later confirming aboard Air Force One it was a "signal of friendship."
- Following the July 31 operation, the yen briefly reached the 155 range but now hovers at 159.6, creating trade-offs where weakness inflates import costs yet aids exporters like Sony and Toyota.
- Experts suggest the Trump administration acted to reduce the U.S. trade deficit and secure Japan's promised $550 billion investment in the United States under a 2025 trade deal.
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Japan spends record $96 billion to bolster yen: ministry data shows
Japan has reportedly spent a record 15.4 trillion yen to support the weakening yen, stepping in heavily to stabilize the currency as it falls to its lowest levels in a decade, according to Finance...
Japan spent a record $98.7 billion to support the yen in the last month, a period when it took a rare coordinated action with the United States to stabilize the currency. Exclusive material for subscribers. To have full access, access the link of the matter and register.
Japan Yen Intervention Hits Record $96 Billion in Past Month
Japan spent record $96.5 billion to support yen over past month, ministry data shows
Japanese authorities spent a record 15.4 trillion yen ($96.5 billion) intervening in foreign exchange markets over the past month to support the local currency, Finance Ministry data showed on Friday.
Japan spent record 15.4 tril. yen in July-Aug. to stem yen's slide
Japan spent a record 15.4 trillion yen ($96 billion) over the past month in yen-buying operations to stem its home currency's slide in the market, including a joint intervention with U.S. authorities, the Finance Ministry said Friday.
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