The Ministry of Finance announced that it had conducted foreign-exchange intervention totaling approximately ¥15.3993 trillion, the largest amount on record, over the one-month period from late July through the 26th of this month. Japan and the United States conducted coordinated yen-buying intervention, and the market saw the yen move toward appreciation. Further developments will be closely watched.
The Ministry of Finance disclosed that total foreign-exchange intervention conducted over the one-month period from late July through the 26th of this month amounted to ¥15.3993 trillion. This was the largest monthly amount on record, exceeding the ¥11.7349 trillion conducted from late April through early May.
Japan and the United States conducted coordinated yen-buying intervention on 31 July, U.S. Eastern Time. Market participants said that, following the intervention, the yen moved toward appreciation from the upper ¥160s per dollar when the yen was weakening.
It was suggested that, on the night of the 30th, Japan time, the yen may have moved toward appreciation by nearly ¥5 in approximately one hour, from the upper ¥162 range per dollar.