Japan Spends Record 82.9B to Support Struggling Yen

Japan's Ministry of Finance confirmed that it intervened in the foreign exchange market last month to support the yen, allocating an unprecedented amount of 82.930 billion euros.

The intervention was aimed at bolstering the value of the Japanese currency after it approached its lowest levels against the dollar since 1986.

According to official data, this is the second time this year that the Japanese Ministry of Finance intervened in the foreign exchange market, following a previous allocation of 11.73 trillion yen (63.170 million euros) in May.