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MNI BRIEF: BOJ Bought Record JPY3.6 Trln In Yen Intervention

MNI (Tokyo)

The scale of the yen-buying intervention conducted by the Bank of Japan last Thursday is estimated to be around JPY3.6 trillion, daily data released by the BOJ showed.

The data showed a total of JPY3.6 trillion of Treasury funds and other funds will be absorbed from the money market on Tuesday, indicating the BOJ will drain the funds in the wake of the yen-buying intervention.

The forex intervention transactions will be settled after two business days.

The scale of Thursday intervention exceeded the JPY2.62 trillion bought on April 10, 1998, marking a record high.

The Ministry of Finance, which directed the BOJ to intervene, will release further details about the operation on Friday.

The government and the BOJ intervened on Sep 22 to buy the yen and sell U.S. dollars for the first time in about 24 years after the currency weakened as the BOJ maintained its easy policy.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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