In brief
Japan’s Finance Ministry released third‑quarter data showing it bought 7.98 trillion yen on July 30, the largest single‑day yen‑buying operation on record. The operation was part of a series that totalled 15.4 trillion yen across July 30, 31 and August 3, including a coordinated move with the United States. The interventions followed a sharp yen slide to its weakest 40‑year level.
Japan’s Finance Ministry disclosed on Monday that it purchased a record 7.98 trillion yen on July 30 to prop up the yen, the largest single‑day intervention on record, according to data released for the July‑September quarter.
Xinhua reported the July‑30 purchase as 7.98 trillion yen (about $50.4 billion) and noted that it was part of a multi‑day buy that included July 31 and August 3, totaling 15.4 trillion yen.
Reuters also reported the 7.98 trillion‑yen operation, citing the Finance Ministry’s data and highlighting the size of the intervention.
On July 31, Japan and the United States jointly intervened to support the yen, a coordinated move not seen in 28 years, a detail disclosed by Xinhua.
The interventions followed a sharp depreciation of the yen to the upper 163 range against the U.S. dollar in late July, its weakest level in about 40 years.
Support from the interventions pushed the yen to the lower 155 range on August 3, a temporary rebound that was sustained for a short period.
On September 8 the yen briefly firmed to the 152 range before receding again.
In recent weeks, the yen has returned to trading below 158 per dollar, weighed by the persistent interest‑rate differential with the United States.
The WSJ reported that Japan spent a record $50 billion in one day and that its total intervention for the quarter reached 15.399 trillion yen.
These data illustrate Japan’s continued use of market‑based actions to address currency volatility amid global monetary policy divergence.
