Japan confirms largest dollar-selling intervention in October

Finance ministry bought 6.3 trillion yen, or about $43 billion, during the month

20221031 US dollar and Japanese yen

Japan confirms its largest intervention in the currency market to prop up the yen. (Photo by Tsuyoshi Tamehiro) 

MITSURU OBE, Nikkei Asia chief business news correspondent

TOKYO -- Japan bought a total of 6.3499 trillion yen in October, data from the Ministry of Finance showed on Monday, confirming its largest yen purchase and sell-down of U.S. dollars to support its currency.

The amount is equivalent to about $43 billion at the current exchange rate of 148.30.

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