TOKYO -- Japan has confirmed that it stepped into the foreign exchange market to support its currency against the dollar about a month ago, with the Ministry of Finance on Friday reporting it bought 9.788 trillion yen ($62.2 billion) during the five-week period between April 26-May 29.
Currencies
Japan's recent yen-buying intervention hit record level
Bought total of $62bn from late April to support currency against dollar
The yen fell 15% against the dollar in 2022 and 7% in 2023, while it has dropped 10% so far in 2024, making it the worst performing major currency. (Photo by Nanami Sato)
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