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Japan spent 7.98 trillion yen ($50.36 billion) buying yen on July 30, the largest single-day intervention in MOF data dating back to 1991. It intervened on three days from July 30 through August 3, spending a total of 15.4 trillion yen from July 30 through August 26.
Japan's Ministry of Finance said the country intervened in foreign exchange markets on three days from July 30 through August 3. The largest operation was 7.98 trillion yen ($50.36 billion) on July 30, exceeding the previous daily record of 6.28 trillion yen spent on April 30.
Japan spent 5.55 trillion yen on July 31, when the United States also intervened by selling euros for yen, and 1.87 trillion yen on August 3. The figures provide a daily breakdown of the 15.4 trillion yen ($97.19 billion) intervention from July 30 through August 26. Japan began buying yen as it reached its weakest levels in 40 years, near 164 per dollar. NLI Research Institute senior economist Tsuyoshi Ueno said the scale underscored the government's urgency to stem the yen's decline and said the currency could remain under downward pressure.
