In brief
Japan bought a record 7.98 trillion yen on July 30, the biggest single‑day intervention ever, according to the Ministry of Finance. The move was part of a three‑day series that totaled 15.4 trillion yen, including a joint operation with the United States on July 31. The yen briefly rebounded after the intervention but has since trended back toward its previous lows.
Japan’s Finance Ministry announced that it bought a record 7.98 trillion yen on July 30, the largest single‑day intervention ever recorded, according to a release from Xinhua. The purchase helped shore up the yen after it fell to a 40‑year low against the U.S. dollar.
That single‑day buy was part of a broader three‑day intervention that totaled 15.4 trillion yen, the same release noted. The operations took place on July 30, July 31, and August 3, with Japan also selling dollars as it bought yen.
On July 31, Japan worked with the United States in a coordinated move, spending the equivalent of 5.55 trillion yen, Xinhua added. This was the first joint intervention between the two countries in 28 years.
The yen had slid to the upper 163‑range against the dollar in late July, its weakest level in about 40 years, prompting the interventions. The measures helped the yen jump back to the lower 155‑range against the dollar on August 3, a gain that was short‑lived.
By September 8, the yen had briefly firmed to the 152‑range before giving up the gains, and it is now trading around 158 against the dollar, the Ministry of Finance said. The intervention shows how Japan is using its foreign‑exchange market tools to keep the currency from declining too far, a move that can affect trade, borrowing costs, and global market stability.
