Japan Supported Yen in Spring with Record Intervention Sum
Translated from German, summarized and contextualized by DistantNews.
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- Japan intervened in the foreign exchange market in spring with a record amount of funds to support the yen.
- The government conducted three interventions between April 30 and May 6, with a single-day record of nearly $40 billion spent on April 30.
- Despite these efforts, the yen's downward trend continued, reaching a 40-year low in July, prompting renewed intervention coordinated with the U.S.
Japan supported the yen in the foreign exchange market during the spring with a record sum, according to data released by the Finance Ministry in Tokyo on Friday. The government intervened on three separate days between April 30 and May 6.
On April 30 alone, Japan sold dollars equivalent to 6.28 trillion yen, approximately $40 billion. This single-day intervention surpassed the previous record set on April 29, 2024. In total, the support measures implemented between late April and late May amounted to 11.7 trillion yen.
While these interventions provided short-term relief, they failed to halt the yen's depreciation. In July, the Japanese currency fell to a 40-year low against the dollar. Following this significant decline, Japanese authorities intervened again in the past week, this time in coordination with the United States.
DistantNews Editorial
Originally published by Die Presse in German. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.
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