Japan Spends a Record 6.28 Trillion Yen on Currency Intervention on April 30
Digital FinanceMacro Impact 4
Japan's Ministry of Finance revealed that authorities spent 6.28 trillion yen on currency market intervention on April 30, a record single-day amount, selling dollars and buying yen to stem the currency's depreciation. This was followed by two more interventions within the same week, with 780.2 billion yen spent on May 4 and 4.68 trillion yen on May 6. The April 30 intervention surpassed the previous record of 5.92 trillion yen set on April 29, 2024, and caused the dollar to weaken sharply to around 155 yen per dollar from above 160 yen per dollar earlier. Japanese and U.S. authorities disclosed that the two countries jointly intervened to buy yen during New York trading on July 31, marking the first such cooperation in 15 years.
