Japan Japan’s Finance Ministry confirmed on Friday that the government intervened in the foreign exchange market on July 11 and 12, spending a total of 5.53 trillion yen (approximately 36 billion dollars) to stabilize the yen.
The intervention came after the Japanese currency weakened to a 38-year low against the U.S. dollar.
According to the ministry’s quarterly data, Japanese authorities spent 3.17 trillion yen on July 11 and 2.37 trillion yen on July 12 in a dollar-selling, yen-buying operation.
This Japan intervention brings the total amount spent on currency stabilization measures this year to 15.32 trillion yen.
The Finance Ministry had previously reported these expenditures between June 27 and July 29, but did not provide daily breakdowns at the time.
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The latest data confirmed that Japan actively intervened in the currency market to curb the yen’s sharp decline.
The intervention led to a significant rebound for the yen, which rose from a low of 161.76 yen per U.S. dollar to 157.30 yen during the two days of intervention.
In April, when the U.S. dollar briefly reached 160.24 yen—the highest level in 34 years—the Japanese government and the Bank of Japan spent approximately 9.8 trillion yen in another attempt to slow the yen’s depreciation.
The Japan yen’s exchange rate against the U.S. dollar currently stands at 152.96 yen per dollar, with Japanese authorities continuing to monitor the currency’s movements.