The Ministry of Finance announced that it had conducted foreign exchange market intervention totaling ¥15.3993 trillion from 30 July to 26 August. It was the largest yen-buying, dollar-selling intervention on record based on monthly disclosures, bringing the cumulative total above ¥27 trillion.
The Ministry of Finance disclosed that the government and the Bank of Japan had intervened in the foreign exchange market from 30 July to 26 August, with the intervention totaling ¥15.3993 trillion. It was the largest yen-buying, dollar-selling intervention on record based on monthly disclosures. The intervention thus resumed for the first time in about 3 months.
The previous intervention totaled ¥11.7349 trillion, which was exceeded by the latest intervention, bringing the cumulative total above ¥27 trillion. This has already surpassed the approximately ¥15 trillion annual high recorded in 2024. The amount of intervention on each day is scheduled to be disclosed in November.
The yen fell sharply to around ¥164 to the dollar in late July, then surged from the upper ¥162 range to the ¥157 range temporarily on the night of 30 July. It returned to above ¥160 on 31 July, but there was another move up to the ¥157 range. A surge was also seen on 3 August.
Finance Minister Satsuki Katayama (片山さつき) and US Treasury Secretary Scott Bessent stated that Japan and the United States had conducted coordinated intervention on 31 July, the first such action in about 28 years. They demonstrated an unusual willingness to coordinate to stem yen weakness and indicated that they would consider further coordinated intervention, although the scale of the US intervention has not been disclosed.