Japan Drops ¥15.4 Trillion in Record Intervention to Defend Yen

Japan's Ministry of Finance revealed that it spent ¥15.4 trillion (approximately $96.2 billion) in just one month to support its currency, the yen.

This massive intervention, which took place between July 30 and August 26, surpassed Japan's previous record of ¥11.73 trillion (approximately $73.3 billion) set in April and May.

The yen had fallen to a near-40-year low in July, with a value of 163.99 per dollar.

In response, the Japanese government intervened in the market on July 30, followed by a joint effort with the US on July 31, marking their first coordinated intervention in 28 years.

US President Donald Trump called this action 'a signal of friendship' to Japan and 'good for the world economy', highlighting the benefits of a weak yen for Japanese exporters like Sony and Toyota.