The scale of Japan's foreign exchange intervention over the past month reaches 1.17349 trillion yen
The Japanese Ministry of Finance announced on May 29 that, within the recent one-month period (from April 28 to May 27), a total of 1.17349 trillion yen in foreign exchange interventions were carried out. This operation involved buying Japanese yen and selling U.S. dollars to curb the depreciation of the yen. The monthly intervention volume has surpassed the previous record of 9.7885 trillion yen set between April 26 and May 29, 2024, marking a historical high for a single month.
It is reported that on the evening of April 30, the yen's exchange rate fell to the lower half of the range of 1 USD to 160 JPY. At that time, the Japanese government and the Bank of Japan had already intervened in the foreign exchange market. Market estimates suggest the scale of this intervention was approximately 5 trillion yen. During the May Day holiday, the yen also experienced a brief but rapid appreciation, leading external observers to conclude that the government and central bank had conducted foreign exchange interventions again.
The Japanese Ministry of Finance discloses each month whether foreign exchange interventions were conducted and the total amount involved. However, detailed daily intervention data are released only once every three months. Specific details related to this round will be made public in August.
Original source: toutiao.com/article/1866530355335179/
Disclaimer: The views expressed in this article are solely those of the author.