Japan’s Ministry of Finance conducted total intervention of ¥15.3993 trillion between 30 July and 26 August, curbing the yen’s depreciation through yen-buying and dollar-selling intervention. This included the first coordinated intervention by Japan and the US since 1998, and the yen rebounded from a 40-year low.
Between 30 July and 26 August, the Japanese government and the Bank of Japan conducted yen-buying and dollar-selling intervention totaling ¥15.3993 trillion, making this the largest intervention amount ever recorded for a single month. The intervention included the first coordinated action by Japan and the US in 28 years, conducted on 31 July, and the yen rebounded sharply from a temporary low of ¥163.99 to ¥157.40.
Including the unilateral intervention preceding the coordinated Japan-US action, the scale of this intervention exceeded the ¥11.7349 trillion conducted between 28 April and 27 May, contributing to a new annual record. As the Ministry of Finance plans to disclose daily data every three months, detailed daily figures are expected to be published in November.
Cumulative intervention since the start of the year reached ¥27.1342 trillion, exceeding the 2003 annual record of ¥20.4250 trillion to become the largest on record. The yen is still considered to require support, and expectations of further intervention may persist depending on future market developments.