Japanese authorities spent 15,39 trillion yen on foreign exchange market interventions from 30 July to 26 August. This is the largest monthly volume in the history of such operations, the Ministry of Finance reported.
The interventions were aimed at curbing the historic weakening of the yen. In late July, the dollar approached 164 yen, a level not seen in about 40 years.
Earlier, in April-May, the authorities had already spent 11,73 trillion yen. The total volume of interventions for the current year exceeded 27 trillion yen, breaking the previous annual record of about 15 trillion yen set in 2024.
On 31 July, a joint intervention by Japan and the United States took place, the first in 28 years. Finance Minister Satsuki Katayama and U.S. Treasury Secretary Scott Bessent confirmed coordination of actions and readiness to continue it if necessary.
After the interventions, the yen strengthened to around 155 per dollar, but then stabilized in the range of 159–160. How long will the exchange rate be held within these limits?
The ministry's data do not disclose the exact dates of individual operations. A detailed breakdown will only appear in the quarterly report, likely in early November.
