Japan Sets Record with Massive ¥6 Billion Forex Intervention

The Japanese government and the Bank of Japan recently conducted a record-breaking foreign exchange market intervention on April 30. The authorities purchased a massive ¥6,278.7 billion for dollars in this operation, surpassing the previous record of ¥5,918.5 billion set on April 29, 2024.

The Ministry of Finance data revealed that this was the largest-ever yen-buying operation in a single day. The three-day total for yen-buying operations during the Golden Week holiday period came to ¥11,734.9 billion, with authorities purchasing ¥780.2 billion on May 4 and ¥4,675.9 billion on May 6.

This was the first time Japan had carried out currency market intervention since July 2024. The move aims to stabilize the Japanese yen's value in the foreign exchange market.