Yen-buying, dollar-selling intervention from the end of July through 26 August totaled approximately ¥15.3993 trillion, with coordinated Japan-US intervention also carried out. Intervention by the government and the Bank of Japan brought the year-to-date total to approximately ¥27.1 trillion, a record high.
Yen-buying, dollar-selling intervention from 30 July through 26 August totaled ¥15.3993 trillion, with coordinated Japan-US intervention carried out. As a result, the dollar-yen exchange rate temporarily moved from the ¥163 range to the ¥155 range, indicating yen appreciation.
The rate has since returned to the ¥159 range, and it is believed that approximately half of the intervention's yen-appreciation effect has been offset. According to the Ministry of Finance, year-to-date yen-buying intervention has totaled approximately ¥27.1 trillion, the largest amount on record.
Japan also carried out yen-buying, dollar-selling intervention totaling approximately ¥11.7 trillion from 30 April through 6 May, bringing the annual total to a record level already.
The latest intervention is positioned as a coordinated Japan-US response, but some view its fundamental effect in stopping the yen's depreciation as limited.