Japan spent a record 15.6 trillion yen, equivalent to approximately $98.7 billion, to support the yen over the past month. This represents the largest sum ever deployed by Tokyo for currency intervention.
The intervention effort involved coordinated action with the United States, a rare move aimed at stabilizing the yen's value. The Japanese Ministry of Finance has not officially disclosed specific intervention dates or amounts but confirmed the total spending.
Previous interventions in 2022 saw Japan spend around 9.8 trillion yen over a roughly two-month period to combat yen depreciation. The recent surge in spending underscores the urgency to curb the yen's sharp decline against the U.S. dollar.