The Ministry of Finance announced that it had conducted currency intervention totaling ¥15.3993 trillion over the latest one-month period. The yen-buying, dollar-selling intervention was aimed at curbing yen depreciation, making the monthly intervention amount the largest on record, and was carried out as part of coordinated Japan-U.S. intervention. Details are expected to be released in November.
The Ministry of Finance announced that it had conducted currency intervention totaling ¥15.3993 trillion from 30 July to 26 August. The yen-buying, dollar-selling intervention was aimed at curbing yen depreciation, and the monthly intervention amount set a new record.
The Bank of Japan and the government conducted coordinated intervention by the Japanese and U.S. governments on 31 July, the first such action in 28 years. The amount announced this time represents the Japanese side's intervention, while the U.S. amount has not been disclosed. The yen's depreciation to the ¥163-per-dollar range on 30 July was cited as the background.
Cumulative intervention this year reached ¥27.1342 trillion, making it the largest annual amount on record and exceeding the ¥20.4250 trillion recorded in 2003. The Ministry of Finance announces the existence and total amount of intervention at the end of each month, and details of this month's intervention are expected to be released in November.